Capital World Investors Boosts Stake in Lyft, Inc. (NASDAQ:LYFT)

Capital World Investors lifted its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 49.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,775,478 shares of the ride-sharing company's stock after purchasing an additional 2,240,478 shares during the quarter. Capital World Investors owned about 1.63% of Lyft worth $87,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its stake in shares of Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock worth $363,000 after acquiring an additional 969 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Lyft by 8.2% in the third quarter. Tidal Investments LLC now owns 221,906 shares of the ride-sharing company's stock valued at $2,829,000 after purchasing an additional 16,911 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Lyft by 37.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 45,976 shares of the ride-sharing company's stock worth $585,000 after purchasing an additional 12,462 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Lyft during the fourth quarter worth about $171,000. Finally, Nordea Investment Management AB boosted its holdings in Lyft by 59.6% in the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company's stock valued at $5,006,000 after purchasing an additional 142,880 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Price Performance

Shares of NASDAQ:LYFT traded up $0.15 during trading on Friday, hitting $12.21. 10,924,292 shares of the stock were exchanged, compared to its average volume of 15,565,696. The company has a market cap of $5.10 billion, a PE ratio of 203.50, 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. The company has a fifty day moving average price of $11.85 and a two-hundred day moving average price of $13.62. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup reissued an "overweight" rating on shares of Lyft in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. Finally, Wedbush decreased their target price on Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.45.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft 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 completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,407 shares of company stock valued at $203,778. 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.