Victory Capital Management Inc. Has $1.54 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Victory Capital Management Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,443 shares of the ride-sharing company’s stock after purchasing an additional 2,476 shares during the period. Victory Capital Management Inc.’s holdings in Lyft were worth $1,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA increased its stake in shares of Lyft by 1.5% during the 2nd quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after purchasing an additional 94,710 shares during the last quarter. Bank of New York Mellon Corp increased its position in Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after buying an additional 812,926 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Lyft by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after buying an additional 167,400 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after buying an additional 1,218,620 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Lyft by 27,739.2% during the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after acquiring an additional 1,188,625 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares of the company’s stock, valued at $9,121,068. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,990 shares of company stock worth $317,333 in the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYFT. JPMorgan Chase & Co. decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley upped their price target on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their price objective on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Finally, DA Davidson raised their target price on Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lyft has an average rating of “Hold” and an average target price of $17.55.

Lyft Stock Up 6.6 %

NASDAQ LYFT opened at $17.89 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The stock has a market capitalization of $7.42 billion, a P/E ratio of -111.81, a price-to-earnings-growth ratio of 4.87 and a beta of 2.04. The stock has a fifty day moving average of $14.30 and a 200-day moving average of $13.56.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same period last year, the company earned ($0.02) EPS. On average, equities research analysts forecast that Lyft, Inc. will post 0.08 EPS for the current year.

Lyft 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.