Financiere des Professionnels Fonds d investissement inc. Grows Stock Holdings in Lyft, Inc. $LYFT

Financiere des Professionnels Fonds d investissement inc. grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 93.7% during the first quarter, Holdings Channel.com reports. The fund owned 81,433 shares of the ride-sharing company’s stock after purchasing an additional 39,401 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Lyft were worth $1,083,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Lyft by 7.4% during the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after acquiring an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC grew its stake in Lyft by 15.4% in the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock worth $191,245,000 after purchasing an additional 1,320,938 shares in the last quarter. Norges Bank bought a new position in Lyft in the fourth quarter worth approximately $109,987,000. Swedbank AB purchased a new position in Lyft during the 4th quarter worth $108,472,000. Finally, Altshuler Shaham Ltd increased its holdings in Lyft by 0.6% during the 4th quarter. Altshuler Shaham Ltd now owns 5,054,610 shares of the ride-sharing company’s stock worth $97,908,000 after purchasing an additional 30,048 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lyft news, CAO Stephen W. Hope sold 5,460 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,535 shares of company stock worth $637,456 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Lyft Trading Down 2.9%

Shares of NASDAQ:LYFT opened at $15.52 on Friday. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54. The business’s fifty day simple moving average is $14.34 and its 200-day simple moving average is $14.93. The company has a market capitalization of $5.89 billion, a PE ratio of 2.27, a P/E/G ratio of 0.95 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, equities research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LYFT shares. Morgan Stanley upgraded Lyft from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 17th. Truist Financial raised their price target on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Oppenheimer began coverage on Lyft in a report on Wednesday, June 17th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. Finally, Roth Capital reiterated a “buy” rating and set a $23.00 target price on shares of Lyft in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.40.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.