Alpha DNA Investment Management LLC Invests $501,000 in Lyft, Inc. (NASDAQ:LYFT)

Alpha DNA Investment Management LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,815 shares of the ride-sharing company's stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LYFT. Marshall Wace LLP lifted its stake in shares of Lyft by 274.6% in the fourth quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company's stock valued at $38,175,000 after purchasing an additional 2,169,255 shares during the period. Jump Financial LLC acquired a new stake in shares of Lyft in the 4th quarter worth approximately $5,332,000. Bridgewater Associates LP increased its stake in Lyft by 939.9% in the 4th quarter. Bridgewater Associates LP now owns 1,827,323 shares of the ride-sharing company's stock valued at $23,572,000 after purchasing an additional 1,651,604 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after purchasing an additional 970 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Lyft by 13.2% during the 4th quarter. XTX Topco Ltd now owns 47,791 shares of the ride-sharing company's stock worth $617,000 after buying an additional 5,588 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

LYFT has been the subject of several recent research reports. Susquehanna dropped their target price on shares of Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Oppenheimer began coverage on shares of Lyft in a research note on Wednesday, April 16th. They set an "outperform" rating and a $15.00 price objective for the company. Cantor Fitzgerald reduced their target price on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Roth Capital reissued a "neutral" rating on shares of Lyft in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Lyft from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.45.

Lyft Stock Up 2.8 %

Lyft stock traded up $0.31 during midday trading on Wednesday, hitting $11.31. 7,380,400 shares of the stock were exchanged, compared to its average volume of 15,565,992. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a 50 day moving average price of $11.92 and a two-hundred day moving average price of $13.64. 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 firm has a market cap of $4.73 billion, a P/E ratio of 188.50, a P/E/G ratio of 1.90 and a beta of 2.13.

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

Lyft announced that its board has approved a share repurchase program on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors 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.