1,053,312 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,053,312 shares of the ride-sharing company's stock, valued at approximately $13,430,000. Point72 Asset Management L.P. owned 0.26% of Lyft as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Lyft during the third quarter worth approximately $90,604,000. Maple Rock Capital Partners Inc. increased its position in Lyft by 84.8% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company's stock worth $78,872,000 after buying an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock worth $103,456,000 after buying an additional 1,735,208 shares during the period. National Bank of Canada FI lifted its holdings in shares of Lyft by 27,739.2% during the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company's stock worth $16,665,000 after buying an additional 1,188,625 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company's stock valued at $40,475,000 after acquiring an additional 812,926 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 2.8 %

Shares of LYFT stock traded up $0.44 during trading hours on Friday, hitting $15.94. 13,251,991 shares of the company's stock traded hands, compared to its average volume of 16,811,464. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The stock's 50 day simple moving average is $14.98 and its 200 day simple moving average is $13.60.

Lyft (NASDAQ:LYFT - Get Free Report) last issued 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. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business posted ($0.02) EPS. Lyft's quarterly revenue was up 31.6% compared to the same quarter last year. Sell-side analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares in the company, valued at $9,121,068. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 929,638 shares in the company, valued at $10,523,502.16. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,909 shares of company stock worth $505,686 over the last ninety days. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. Piper Sandler reaffirmed an "overweight" rating and set a $23.00 target price (up from $17.00) on shares of Lyft in a report on Thursday, November 7th. Barclays boosted their price target on Lyft from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Wedbush reissued a "neutral" rating and set a $20.00 price target (up previously from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a "hold" rating on shares of Lyft in a report on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lyft currently has a consensus rating of "Hold" and an average target price of $17.77.

About Lyft

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.