Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,992 shares of the ride-sharing company's stock after buying an additional 62,478 shares during the quarter. Invesco Ltd. owned 0.14% of Lyft worth $7,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LYFT. Cerity Partners LLC boosted its position in Lyft by 49.4% in the 4th quarter. Cerity Partners LLC now owns 123,888 shares of the ride-sharing company's stock valued at $1,597,000 after buying an additional 40,990 shares during the period. Federated Hermes Inc. boosted its holdings in Lyft by 1,957.5% in the fourth quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock valued at $3,726,000 after purchasing an additional 274,789 shares during the period. Russell Investments Group Ltd. grew its stake in Lyft by 46.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,444,427 shares of the ride-sharing company's stock worth $18,633,000 after purchasing an additional 457,273 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Lyft by 23.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 49,688 shares of the ride-sharing company's stock worth $641,000 after purchasing an additional 9,332 shares during the period. Finally, World Investment Advisors acquired a new stake in Lyft in the 4th quarter valued at about $185,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent research reports. Cantor Fitzgerald cut their target price on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets reduced their price objective on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Roth Capital reiterated a "neutral" rating on shares of Lyft in a research note on Wednesday, February 12th. Oppenheimer initiated coverage on Lyft in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $15.00 price target on the stock. Finally, DA Davidson reaffirmed a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $16.45.

Insider Transactions at Lyft

In other news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares of the company's stock, 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 SEC, which is available through this hyperlink. Also, 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 transaction of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This represents a 0.27 % 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 valued at $203,778 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

Lyft Price Performance

NASDAQ:LYFT traded up $0.05 during trading hours on Monday, hitting $12.26. The company's stock had a trading volume of 9,942,881 shares, compared to its average volume of 15,591,965. The company has a market capitalization of $5.12 billion, a PE ratio of 204.33, a PEG ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The business's 50-day moving average is $11.82 and its two-hundred day moving average is $13.63. 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 announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 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, research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are 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.