Jump Financial LLC Purchases New Position in Lyft, Inc. (NASDAQ:LYFT)

Jump Financial LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 413,303 shares of the ride-sharing company's stock, valued at approximately $5,332,000. Jump Financial LLC owned 0.10% of Lyft as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after purchasing an additional 984,907 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the period. Geode Capital Management LLC raised its stake in shares of Lyft by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company's stock valued at $81,419,000 after acquiring an additional 443,109 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock valued at $50,031,000 after purchasing an additional 981,186 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LYFT. Wedbush decreased their price target on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets dropped their target price on Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald decreased their price target on Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Bank of America downgraded Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective on the stock. in a report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their target price on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft has an average rating of "Hold" and a consensus target price of $16.45.

Lyft Price Performance

NASDAQ:LYFT traded up $0.26 during mid-day trading on Tuesday, hitting $11.20. 2,426,445 shares of the company's stock traded hands, compared to its average volume of 15,552,371. The firm's 50 day simple moving average is $11.97 and its 200 day simple moving average is $13.65. The company has a market cap of $4.68 billion, a PE ratio of 186.78, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) 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%. Sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of the company's stock in a transaction on 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares of the company's stock, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 over the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

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.