Blueshift Asset Management LLC Purchases 25,335 Shares of Lyft, Inc. (NASDAQ:LYFT)

Blueshift Asset Management LLC boosted its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 132.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,517 shares of the ride-sharing company's stock after buying an additional 25,335 shares during the period. Blueshift Asset Management LLC's holdings in Lyft were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. True Wealth Design LLC bought a new position in shares of Lyft in the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Lyft during the 4th quarter worth about $29,000. ORG Wealth Partners LLC bought a new position in Lyft in the 4th quarter worth about $31,000. Plato Investment Management Ltd bought a new position in Lyft in the 4th quarter worth about $35,000. Finally, Byrne Asset Management LLC purchased a new position in Lyft during the 4th quarter valued at about $35,000. Institutional investors own 83.07% of the company's stock.

Insider Activity at Lyft

In related news, Director Logan Green sold 11,411 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company's stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The sale 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 business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 in the last 90 days. Company insiders own 3.07% of the company's stock.

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Lyft Trading Up 2.2 %

Shares of Lyft stock traded up $0.27 on Tuesday, hitting $12.49. The stock had a trading volume of 39,008,139 shares, compared to its average volume of 15,033,141. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.40. The stock's 50-day simple moving average is $13.03 and its two-hundred day simple moving average is $13.81. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 208.17, a PEG ratio of 1.90 and a beta of 2.15.

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 analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. As a group, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYFT. Wedbush cut their price objective on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. UBS Group lowered their target price on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Roth Capital restated a "neutral" rating on shares of Lyft in a research report on Wednesday, February 12th. BMO Capital Markets decreased their price target on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Finally, Piper Sandler reissued an "overweight" rating and set a $18.00 price objective (down previously from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.03.

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.