Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 720,464 shares of the ride-sharing company’s stock after purchasing an additional 60,636 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.17% of Lyft worth $9,397,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LYFT. Renaissance Technologies LLC lifted its position in shares of Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock worth $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Norges Bank acquired a new stake in shares of Lyft during the fourth quarter worth about $49,599,000. Pacer Advisors Inc. lifted its position in shares of Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Capital World Investors lifted its position in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after purchasing an additional 2,240,478 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Lyft by 274.6% during the fourth quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company’s stock worth $38,175,000 after purchasing an additional 2,169,255 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Activity at Lyft

In related news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the transaction, the insider now owns 959,697 shares in the company, valued at approximately $11,948,227.65. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,143 shares of company stock worth $486,841 in the last three months. Insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT opened at $16.77 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market cap of $7.01 billion, a PE ratio of 279.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The company’s 50 day simple moving average is $12.32 and its 200-day simple moving average is $13.70. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business posted $0.15 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. As a group, equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has approved a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYFT. Loop Capital reduced their target price on shares of Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Wedbush reduced their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. UBS Group raised their target price on shares of Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Bank of America cut shares of Lyft from a “buy” rating to an “underperform” rating and set a $10.50 target price on the stock. in a report on Thursday, April 3rd. Finally, Morgan Stanley reduced their target price on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus price target of $16.56.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.