Lyft, Inc. (NASDAQ:LYFT) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 36,002,611 shares of the ride-sharing company's stock after buying an additional 984,907 shares during the period. Vanguard Group Inc. owned 8.68% of Lyft worth $464,434,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Stevens Capital Management LP purchased a new stake in Lyft during the 4th quarter valued at approximately $232,000. Fox Run Management L.L.C. grew its position in Lyft by 38.3% in the 4th quarter. Fox Run Management L.L.C. now owns 61,578 shares of the ride-sharing company's stock valued at $794,000 after buying an additional 17,039 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Lyft in the fourth quarter valued at about $998,000. Sei Investments Co. raised its holdings in Lyft by 780.3% during the fourth quarter. Sei Investments Co. now owns 752,621 shares of the ride-sharing company's stock worth $9,709,000 after purchasing an additional 667,123 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Lyft by 335.7% in the 4th quarter. American Century Companies Inc. now owns 102,614 shares of the ride-sharing company's stock valued at $1,324,000 after purchasing an additional 79,062 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction 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. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 in the last three months. 3.07% of the stock is owned by insiders.

Lyft Stock Performance

Shares of LYFT stock traded down $0.64 on Friday, hitting $10.84. 19,189,049 shares of the stock traded hands, compared to its average volume of 15,408,403. The company has a market capitalization of $4.53 billion, a PE ratio of 180.67, a PEG ratio of 1.90 and a beta of 2.13. The company's fifty day moving average is $12.76 and its 200 day moving average is $13.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.55.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has initiated a stock repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent analyst reports. Benchmark raised Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Monday, January 6th. Evercore ISI reduced their target price on Lyft from $19.00 to $15.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. BMO Capital Markets lowered their price target on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective for the company. in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lyft from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.66.

About Lyft

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.