Van ECK Associates Corp Has $5.15 Million Position in Lyft, Inc. (NASDAQ:LYFT)

Van ECK Associates Corp boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,880 shares of the ride-sharing company's stock after acquiring an additional 49,138 shares during the period. Van ECK Associates Corp owned about 0.10% of Lyft worth $5,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LYFT. Summit Trail Advisors LLC raised its position in shares of Lyft by 4.5% during the 4th quarter. Summit Trail Advisors LLC now owns 27,249 shares of the ride-sharing company's stock worth $352,000 after purchasing an additional 1,182 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Lyft in the fourth quarter worth $1,034,000. Entropy Technologies LP lifted its position in shares of Lyft by 86.3% in the fourth quarter. Entropy Technologies LP now owns 149,898 shares of the ride-sharing company's stock valued at $1,934,000 after acquiring an additional 69,436 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Lyft by 6.9% in the fourth quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock valued at $275,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Lyft during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Insider Buying and Selling

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.07% of the company's stock.

Lyft Stock Performance

NASDAQ LYFT traded up $0.07 on Thursday, hitting $13.46. The stock had a trading volume of 16,960,087 shares, compared to its average volume of 20,499,936. The company's 50-day moving average is $13.69 and its two-hundred day moving average is $13.59. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 224.33, a P/E/G ratio of 1.98 and a beta of 2.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data 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 8.71% and a net margin of 0.39%. On average, analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LYFT shares. Morgan Stanley upped their target price on shares of Lyft from $16.50 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Wedbush cut their price objective on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. TD Cowen lifted their price objective on Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.22.

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.