Daiwa Securities Group Inc. Makes New $1.37 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Daiwa Securities Group Inc. acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 106,300 shares of the ride-sharing company's stock, valued at approximately $1,370,000.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in shares of Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock worth $316,000 after buying an additional 903 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Lyft by 3.5% during 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 period. XTX Topco Ltd boosted its holdings in Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock valued at $538,000 after purchasing an additional 1,043 shares during the period. US Bancorp DE grew its position in shares of Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock worth $115,000 after purchasing an additional 1,080 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

Shares of NASDAQ LYFT traded up $0.19 during mid-day trading on Wednesday, reaching $11.72. The company's stock had a trading volume of 8,882,309 shares, compared to its average volume of 14,984,531. The stock has a fifty day moving average of $13.13 and a two-hundred day moving average of $13.80. The firm has a market capitalization of $4.90 billion, a PE ratio of 195.40, a P/E/G ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75.

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Lyft (NASDAQ:LYFT - Get Free Report) last released 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 net margin of 0.39% and a return on equity of 8.03%. As a group, sell-side analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its board has approved a stock buyback program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling 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 shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company'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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,407 shares of company stock worth $203,778. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LYFT shares. Loop Capital decreased their price target on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday. BMO Capital Markets lowered their price objective on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $21.00 target price on shares of Lyft in a report on Monday. Barclays lowered their price target on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.