Headlands Technologies LLC Buys New Position in Lyft, Inc. (NASDAQ:LYFT)

Headlands Technologies LLC acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,446 shares of the ride-sharing company's stock, valued at approximately $419,000.

A number of other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new stake in Lyft in the 4th quarter valued at $31,000. Byrne Asset Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at about $35,000. Plato Investment Management Ltd bought a new stake in shares of Lyft during the 4th quarter worth approximately $35,000. Finally, Harbour Investments Inc. lifted its stake in Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after acquiring an additional 2,000 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Up 13.7 %

Shares of NASDAQ LYFT traded up $1.37 during mid-day trading on Wednesday, reaching $11.34. 33,107,227 shares of the company's stock traded hands, compared to its average volume of 15,550,530. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.55. The stock has a market cap of $4.74 billion, a P/E ratio of 189.00, a PEG ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The business has a 50-day simple moving average of $12.46 and a 200 day simple moving average of $13.75.

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Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has authorized a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 over the last three months. 3.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on LYFT. JPMorgan Chase & Co. reduced their target price on Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday. Barclays dropped 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 report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. DA Davidson reduced their target price on Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, twenty-seven have issued 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, the stock currently has a consensus rating of "Hold" and an average target price of $16.60.

About Lyft

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.