32,891 Shares in Lyft, Inc. (NASDAQ:LYFT) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,891 shares of the ride-sharing company's stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lyft in the 4th quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the fourth quarter worth $31,000. Plato Investment Management Ltd acquired a new stake in Lyft in the fourth quarter worth $35,000. Byrne Asset Management LLC bought a new stake in Lyft in the fourth quarter valued at $35,000. Finally, Harbour Investments Inc. raised its holdings in shares of Lyft by 259.7% during the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LYFT shares. Roth Capital reiterated a "neutral" rating on shares of Lyft in a report on Wednesday, February 12th. UBS Group reduced their price target on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Monday, March 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.60.

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Insider Activity

In related news, Director Logan Green sold 11,411 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on 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 in the company, valued at $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

Shares of Lyft stock traded down $0.60 on Thursday, hitting $10.74. 6,853,487 shares of the company traded hands, compared to its average volume of 15,518,267. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.55. The firm's 50-day simple moving average is $12.46 and its 200 day simple moving average is $13.75. The company has a market cap of $4.49 billion, a P/E ratio of 178.28, a P/E/G 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 issued its 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 return on equity of 8.03% and a net margin of 0.39%. Analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has authorized a share buyback 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 buy up to 8.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

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.