Kerrisdale Advisers LLC Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

Kerrisdale Advisers LLC acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,170 shares of the ride-sharing company's stock, valued at approximately $286,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft in the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in Lyft in the 4th quarter valued at $31,000. Byrne Asset Management LLC purchased a new stake in Lyft in the fourth quarter worth $35,000. Plato Investment Management Ltd bought a new stake in shares of Lyft during the fourth quarter worth $35,000. Finally, Harbour Investments Inc. boosted its stake in shares of Lyft by 259.7% during the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Analysts Set New Price Targets

LYFT has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective 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. UBS Group lowered their price target on Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald reduced their price objective on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Piper Sandler reaffirmed an "overweight" rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Benchmark raised Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lyft has a consensus rating of "Hold" and an average price target of $16.45.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the business'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 of the company's stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Logan Green sold 11,411 shares of the firm's 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 sale, the director now directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock worth $203,778 over the last 90 days. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Performance

Lyft stock traded up $0.15 during trading hours on Friday, hitting $12.21. 10,924,292 shares of the stock traded hands, compared to its average volume of 15,614,594. The firm's 50 day moving average price is $11.82 and its 200-day moving average price is $13.62. 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 stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 203.50, a P/E/G 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.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 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%. As a group, equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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

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.