Schroder Investment Management Group Raises Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Schroder Investment Management Group boosted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 208.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,936 shares of the ride-sharing company's stock after buying an additional 203,475 shares during the period. Schroder Investment Management Group owned approximately 0.07% of Lyft worth $3,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYFT. Arrowstreet Capital Limited Partnership acquired a new position in Lyft during the 4th quarter valued at about $6,356,000. Brown Brothers Harriman & Co. boosted its stake in Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,058 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Lyft by 26.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 58,238 shares of the ride-sharing company's stock valued at $751,000 after purchasing an additional 12,102 shares during the last quarter. Norges Bank acquired a new position in Lyft during the 4th quarter valued at about $49,599,000. Finally, Prudential Financial Inc. acquired a new position in Lyft during the 4th quarter valued at about $1,221,000. 83.07% of the stock is owned by institutional investors.

Lyft Trading Down 2.6 %

Lyft stock traded down $0.30 during midday trading on Thursday, reaching $11.04. The stock had a trading volume of 3,578,715 shares, compared to its average volume of 15,505,312. 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 52-week low of $8.93 and a 52-week high of $19.55. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 184.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company has a fifty day moving average of $12.46 and a 200 day moving average of $13.75.

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Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, 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 initiated a stock buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on 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 owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 11,411 shares of the firm's 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 transaction, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % 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. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp reiterated a "sector weight" rating on shares of Lyft in a research note on Wednesday, March 26th. DA Davidson cut their target price on Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research note on Monday, March 17th. Susquehanna cut their target price on Lyft from $18.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Benchmark raised shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.