Lyft, Inc. (NASDAQ:LYFT) Shares Purchased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 97.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,455 shares of the ride-sharing company's stock after acquiring an additional 21,992 shares during the period. Counterpoint Mutual Funds LLC's holdings in Lyft were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Lyft in the 3rd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Lyft in the fourth quarter valued at approximately $31,000. Plato Investment Management Ltd acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $35,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Lyft during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Price Performance

Shares of NASDAQ:LYFT traded up $0.23 on Friday, hitting $11.98. The company had a trading volume of 38,642,519 shares, compared to its average volume of 15,079,251. The company has a market cap of $5.01 billion, a PE ratio of 199.67, a PEG ratio of 1.90 and a beta of 2.15. The business has a 50 day moving average of $13.07 and a 200 day moving average of $13.77. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74.

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Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly 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 return on equity of 8.03% and a net margin of 0.39%. As a group, equities analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on LYFT. Barclays reduced their price target on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. BMO Capital Markets decreased their target price on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating 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 objective for the company in a research note on Monday, January 6th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft currently has an average rating of "Hold" and a consensus target price of $17.03.

Insider Buying and Selling

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by insiders.

Lyft 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.