Charles Schwab Investment Management Inc. Decreases Stake in Lyft, Inc. (NASDAQ:LYFT)

Charles Schwab Investment Management Inc. cut its stake in Lyft, Inc. (NASDAQ:LYFT) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,596,339 shares of the ride-sharing company’s stock after selling 7,381 shares during the period. Charles Schwab Investment Management Inc. owned 0.87% of Lyft worth $46,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake in shares of Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after buying an additional 903 shares during the period. Sanctuary Advisors LLC raised its stake in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock worth $363,000 after acquiring an additional 969 shares during the last quarter. XTX Topco Ltd raised its stake in Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after acquiring an additional 1,043 shares during the last quarter. US Bancorp DE lifted its position in Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after acquiring an additional 1,045 shares during the period. Finally, Manchester Capital Management LLC grew its stake in Lyft by 13.8% during the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 1,080 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity

In other news, 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 value of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock worth $203,778 over the last three months. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research analyst reports. Bank of America raised their price objective on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. UBS Group reduced their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Evercore ISI dropped their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald cut their price objective on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.13.

Lyft Price Performance

Shares of Lyft stock opened at $11.92 on Friday. The stock has a market capitalization of $4.98 billion, a P/E ratio of 198.67, a PEG ratio of 1.90 and a beta of 2.15. The business has a 50 day simple moving average of $13.24 and a two-hundred day simple moving average of $13.76. Lyft, Inc. has a 12 month low of $8.93 and a 12 month 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.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS 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%. As a group, analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.