Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 49.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,888 shares of the ride-sharing company's stock after buying an additional 40,990 shares during the period. Cerity Partners LLC's holdings in Lyft were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LYFT. Vanguard Group Inc. increased its holdings in shares of Lyft by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after acquiring an additional 984,907 shares during the period. Pacer Advisors Inc. grew its stake in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $81,419,000 after purchasing an additional 443,109 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lyft by 33.9% during 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 buying an additional 981,186 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Lyft in the 4th quarter valued at about $49,599,000. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LYFT shares. Loop Capital decreased their target price on shares of Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Bank of America lowered Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective for the company. in a report on Thursday, April 3rd. Cantor Fitzgerald dropped their target price on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Susquehanna lowered their price target on Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley cut their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $16.45.

Lyft Price Performance

Shares of NASDAQ:LYFT traded up $0.51 during midday trading on Wednesday, reaching $11.51. 4,422,140 shares of the company's stock traded hands, compared to its average volume of 15,556,186. The company has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $13.64. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a market cap of $4.81 billion, a P/E ratio of 191.83, a PEG ratio of 1.90 and a beta of 2.13. 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 earnings results 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%. Equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company's stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $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. In the last three months, insiders sold 15,407 shares of company stock worth $203,778. Corporate insiders own 3.07% of the company's stock.

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.