Ogborne Capital Management LLC Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

Ogborne Capital Management LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,000,000 shares of the ride-sharing company’s stock, valued at approximately $14,990,000. Lyft makes up 4.6% of Ogborne Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Ogborne Capital Management LLC owned about 0.25% of Lyft at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LYFT. Allworth Financial LP grew its position in shares of Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Lyft during the 4th quarter worth approximately $34,000. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 1,567 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Lyft during the 4th quarter worth approximately $40,000. Finally, EMC Capital Management grew its position in shares of Lyft by 283.4% during the 3rd quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company’s stock worth $52,000 after purchasing an additional 3,696 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total transaction of $101,010.00. Following the completion of the transaction, the president now owns 64,278 shares of the company’s stock, valued at $998,880.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lyft news, President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total value of $101,010.00. Following the completion of the sale, the president now directly owns 64,278 shares of the company’s stock, valued at $998,880.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 7,923 shares of Lyft stock in a transaction on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $131,046.42. Following the completion of the sale, the director now directly owns 924,621 shares of the company’s stock, valued at $15,293,231.34. The disclosure for this sale can be found here. Insiders sold 246,033 shares of company stock valued at $4,782,237 over the last quarter. Insiders own 3.07% of the company’s stock.

Lyft Trading Down 2.1 %

Shares of NASDAQ LYFT opened at $14.17 on Friday. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The firm has a fifty day simple moving average of $16.49 and a 200 day simple moving average of $15.65. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, equities research analysts predict that Lyft, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LYFT shares. Wedbush increased their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Wells Fargo & Company increased their price target on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, April 8th. Bank of America upgraded shares of Lyft from an “underperform” rating to a “buy” rating and increased their price target for the stock from $15.00 to $20.00 in a research report on Friday, June 7th. Sanford C. Bernstein increased their price target on shares of Lyft from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets increased their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $18.04.

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.