SBI Securities Co. Ltd. Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

SBI Securities Co. Ltd. bought a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 35,092 shares of the ride-sharing company's stock, valued at approximately $453,000.

Several other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew 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 in the last quarter. Pacer Advisors Inc. grew 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 in the last quarter. Paragon Capital Management Inc. purchased a new position in Lyft during the fourth quarter valued at approximately $1,681,000. KBC Group NV grew its position in Lyft by 354.9% during the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock valued at $3,434,000 after purchasing an additional 207,672 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Lyft by 7,536.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company's stock valued at $23,927,000 after purchasing an additional 1,830,533 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by insiders.

Lyft Stock Performance

Lyft stock traded down $0.05 on Wednesday, hitting $12.36. The company's stock had a trading volume of 16,181,841 shares, compared to its average volume of 14,982,641. The firm has a market cap of $5.17 billion, a P/E ratio of 206.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $13.47 and a 200-day moving average price of $13.77. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its 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 return on equity of 8.03% and a net margin of 0.39%. On average, equities analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its Board of Directors has approved a share repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on LYFT shares. Truist Financial decreased their target price on shares of Lyft from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Piper Sandler reissued an "overweight" rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. TD Cowen boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Roth Mkm boosted their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, UBS Group reduced their price objective on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft currently has a consensus rating of "Hold" and a consensus price target of $17.22.

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.