Caisse DE Depot ET Placement DU Quebec Sells 291,885 Shares of Lyft, Inc. (NASDAQ:LYFT)

Caisse DE Depot ET Placement DU Quebec lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 83.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,115 shares of the ride-sharing company's stock after selling 291,885 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Lyft were worth $741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock valued at $230,174,000 after purchasing an additional 80,675 shares during the period. Pacer Advisors Inc. bought a new position in shares of Lyft in the 3rd quarter valued at approximately $90,604,000. Primecap Management Co. CA raised its stake in shares of Lyft by 3.8% in the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock valued at $82,768,000 after acquiring an additional 235,510 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company's stock valued at $40,475,000 after acquiring an additional 812,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Lyft by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company's stock valued at $22,580,000 after acquiring an additional 167,400 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Buying and Selling

In related news, Director Logan Green sold 10,919 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company's stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares of the company's stock, valued at approximately $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,909 shares of company stock valued at $505,686 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Up 1.9 %

LYFT traded up $0.32 on Wednesday, hitting $17.24. 10,219,878 shares of the company were exchanged, compared to its average volume of 15,020,696. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a market cap of $7.15 billion, a PE ratio of -105.75, a PEG ratio of 4.98 and a beta of 2.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock's fifty day moving average is $14.86 and its 200-day moving average is $13.57.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business's revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Equities research analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on LYFT. Benchmark reaffirmed a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. Nomura raised Lyft from a "reduce" rating to a "neutral" rating and dropped their price target for the stock from $15.00 to $13.00 in a research report on Friday, August 23rd. Truist Financial lifted their price objective on Lyft from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. Bank of America lifted their price objective on Lyft from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Raymond James started coverage on Lyft in a report on Tuesday, September 24th. They set a "market perform" rating on the stock. Twenty-eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.55.

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.