American Century Companies Inc. Acquires 79,062 Shares of Lyft, Inc. (NASDAQ:LYFT)

American Century Companies Inc. raised its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 335.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,614 shares of the ride-sharing company's stock after buying an additional 79,062 shares during the quarter. American Century Companies Inc.'s holdings in Lyft were worth $1,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its holdings 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 purchasing an additional 903 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Lyft by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock valued at $363,000 after acquiring an additional 969 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Lyft by 2.5% in the third 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 raised its holdings in shares of Lyft by 2.6% during the fourth 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 in the last quarter. Finally, Manchester Capital Management LLC boosted its position in Lyft by 13.8% during the fourth 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. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction that occurred 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 owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock worth $203,778 in the last 90 days. Corporate insiders own 3.07% of the company's stock.

Lyft Trading Down 0.9 %

Shares of LYFT stock traded down $0.10 on Tuesday, reaching $10.78. The company had a trading volume of 4,394,511 shares, compared to its average volume of 15,520,430. The company has a 50-day moving average of $12.29 and a 200-day moving average of $13.71. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.34. The stock has a market cap of $4.51 billion, a PE ratio of 179.67, a PEG ratio of 1.90 and a beta of 2.13. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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%. On average, equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Bank of America downgraded shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a research report on Thursday, April 3rd. KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a research note on Wednesday, March 26th. Wedbush lowered their target price on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Evercore ISI reduced their price target on Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $16.60.

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.