Lyft, Inc. (NASDAQ:LYFT) Stock Holdings Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,444,427 shares of the ride-sharing company's stock after acquiring an additional 457,273 shares during the period. Russell Investments Group Ltd. owned approximately 0.35% of Lyft worth $18,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in 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 during the period. Pacer Advisors Inc. raised its stake in shares of Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lyft by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company's stock valued at $81,419,000 after buying an additional 443,109 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 buying an additional 981,186 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lyft in the fourth quarter valued at approximately $49,599,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Lyft

In other news, 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 transaction of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the 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 transaction, the director now directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Lyft Trading Down 1.1 %

Shares of LYFT stock traded down $0.12 during mid-day trading on Monday, reaching $10.91. The company's stock had a trading volume of 5,566,499 shares, compared to its average volume of 15,551,392. The company's 50 day simple moving average is $12.34 and its 200-day simple moving average is $13.72. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.34. The firm has a market capitalization of $4.56 billion, a PE ratio of 181.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13.

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

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald decreased their target price on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Wedbush lowered their price target on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Monday, March 17th. DA Davidson lowered 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 reiterated a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and an average target price of $16.60.

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.