Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 50.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,514 shares of the ride-sharing company’s stock after purchasing an additional 5,234 shares during the period. Jones Financial Companies Lllp’s holdings in Lyft were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock valued at $5,146,000 after purchasing an additional 49,138 shares during the period. Pacer Advisors Inc. lifted its position in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the period. Paragon Capital Management Inc. acquired a new position in shares of Lyft in the fourth quarter worth about $1,681,000. KBC Group NV raised its position in shares of Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after acquiring an additional 207,672 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company’s stock worth $50,031,000 after acquiring an additional 981,186 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Performance

Lyft stock opened at $11.27 on Friday. The firm has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $13.76. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 187.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 in the last 90 days. Company insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LYFT shares. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Wednesday, February 12th. Evercore ISI decreased their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. Barclays decreased their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Tigress Financial upped their price objective on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Susquehanna decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Twenty-six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.13.

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.