Smith Group Asset Management LLC Buys New Holdings in Lyft, Inc. (NASDAQ:LYFT)

Smith Group Asset Management LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,700 shares of the ride-sharing company's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYFT. Pacer Advisors Inc. bought a new stake in Lyft in the 3rd quarter valued at about $90,604,000. Maple Rock Capital Partners Inc. raised its stake in Lyft by 84.8% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company's stock valued at $78,872,000 after acquiring an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock valued at $103,456,000 after acquiring an additional 1,735,208 shares during the period. Point72 Asset Management L.P. bought a new stake in Lyft in the 3rd quarter valued at about $13,430,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Lyft by 10,225.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company's stock valued at $5,475,000 after acquiring an additional 420,274 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now directly owns 755,847 shares of the company's stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock valued at $427,330 over the last ninety days. Company insiders own 3.07% of the company's stock.

Lyft Trading Down 1.8 %

Shares of Lyft stock traded down $0.25 during midday trading on Thursday, reaching $13.19. 5,323,283 shares of the company's stock traded hands, compared to its average volume of 14,076,170. The company has a market cap of $5.47 billion, a PE ratio of -82.48, a price-to-earnings-growth ratio of 1.74 and a beta of 2.14. The stock has a 50 day moving average of $14.57 and a 200-day moving average of $13.43. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm's revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LYFT shares. Jefferies Financial Group lifted their target price on Lyft from $10.50 to $13.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $23.00 target price (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Wedbush reduced their target price on Lyft from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, January 6th. TD Cowen lifted their target price on Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a report on Thursday, November 7th. Finally, Tigress Financial lifted their target price on Lyft from $24.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lyft has an average rating of "Hold" and a consensus price target of $17.84.

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.