Bridgewater Associates LP Purchases 1,651,604 Shares of Lyft, Inc. (NASDAQ:LYFT)

Bridgewater Associates LP lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 939.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,827,323 shares of the ride-sharing company's stock after buying an additional 1,651,604 shares during the quarter. Bridgewater Associates LP owned about 0.44% of Lyft worth $23,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Lyft by 14.0% in 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 during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in shares of Lyft in the fourth quarter worth $1,681,000. Renaissance Technologies LLC raised its stake in Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after purchasing an additional 6,365,727 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Lyft by 354.9% in the 4th 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 during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Up 3.0 %

NASDAQ LYFT traded up $0.32 during trading hours on Friday, reaching $11.16. 12,563,996 shares of the company's stock were exchanged, compared to its average volume of 15,611,687. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company's 50-day moving average is $12.02 and its two-hundred day moving average is $13.65. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 186.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13.

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

Lyft announced that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Wedbush lowered their price objective on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Benchmark upgraded Lyft from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Monday, January 6th. Citigroup reaffirmed an "overweight" rating on shares of Lyft in a research note on Wednesday, February 12th. Finally, DA Davidson reiterated a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.45.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated 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 owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 11,411 shares of the 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 completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 over the last three months. Company insiders own 3.07% of the company's stock.

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.