Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,488 shares of the ride-sharing company's stock after acquiring an additional 55,045 shares during the period. Victory Capital Management Inc.'s holdings in Lyft were worth $2,264,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Lyft by 14.0% during the 4th quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock worth $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the period. Paragon Capital Management Inc. purchased a new stake in Lyft during the fourth quarter worth about $1,681,000. KBC Group NV increased its holdings in Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock valued at $3,434,000 after buying an additional 207,672 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock valued at $50,031,000 after buying an additional 981,186 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

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Lyft Stock Up 2.2 %

Shares of NASDAQ:LYFT traded up $0.26 during midday trading on Friday, hitting $12.01. 13,094,347 shares of the company's stock traded hands, compared to its average volume of 15,079,216. The firm's fifty day moving average price is $13.07 and its two-hundred day moving average price is $13.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market cap of $5.02 billion, a PE ratio of 200.08, a P/E/G ratio of 1.90 and a beta of 2.15.

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

Lyft announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

LYFT has been the topic of a number of research reports. Cantor Fitzgerald lowered their price target on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and issued a $21.00 price target on shares of Lyft in a research report on Monday. DA Davidson decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a report on Wednesday, February 12th. Finally, Evercore ISI reduced their price target on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft has a consensus rating of "Hold" and a consensus target price of $17.03.

Insider Buying and Selling

In related news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now owns 297,640 shares of the company's stock, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company's 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 completion of the transaction, the director now directly owns 911,922 shares of the company's stock, 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 ninety days, insiders have sold 15,407 shares of company stock valued at $203,778. Corporate insiders own 3.07% of the company's stock.

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.