Trexquant Investment LP Boosts Holdings in Lyft, Inc. (NASDAQ:LYFT)

Trexquant Investment LP increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 70.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,391,574 shares of the ride-sharing company's stock after acquiring an additional 990,662 shares during the quarter. Lyft comprises 0.4% of Trexquant Investment LP's portfolio, making the stock its 26th biggest holding. Trexquant Investment LP owned 0.58% of Lyft worth $30,851,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LYFT. Cerity Partners LLC bought a new stake in shares of Lyft in the 3rd quarter valued at $1,057,000. The Manufacturers Life Insurance Company increased its holdings in Lyft by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company's stock worth $1,054,000 after buying an additional 1,315 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Lyft by 54.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 135,366 shares of the ride-sharing company's stock valued at $1,726,000 after acquiring an additional 47,566 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lyft by 10.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,668 shares of the ride-sharing company's stock valued at $863,000 after buying an additional 6,249 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Lyft during the 3rd quarter valued at about $138,000. Institutional investors own 83.07% of the company's stock.

Lyft Price Performance

Shares of Lyft stock traded down $0.64 during trading hours on Friday, reaching $10.84. The company's stock had a trading volume of 19,189,049 shares, compared to its average volume of 15,408,403. The firm has a 50 day moving average price of $12.76 and a 200-day moving average price of $13.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market cap of $4.53 billion, a P/E ratio of 180.67, a P/E/G ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.55.

Lyft (NASDAQ:LYFT - Get Free Report) last issued 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 8.03% and a net margin of 0.39%. On average, analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has authorized a share repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on LYFT. DA Davidson cut their price target on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Monday, March 24th. UBS Group reduced their price objective on Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets lowered 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 note on Wednesday, February 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.66.

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.