Vontobel Holding Ltd. Lowers Holdings in Lyft, Inc. (NASDAQ:LYFT)

Vontobel Holding Ltd. lowered its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 61.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,007 shares of the ride-sharing company's stock after selling 29,174 shares during the quarter. Vontobel Holding Ltd.'s holdings in Lyft were worth $232,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Lyft by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock valued at $230,174,000 after purchasing an additional 80,675 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Lyft by 32.4% during the 4th 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 last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Lyft by 27.2% during 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 purchasing an additional 1,735,208 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock valued at $82,768,000 after purchasing an additional 235,510 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. increased its position in shares of Lyft by 84.8% during 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 purchasing an additional 2,838,000 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Lyft Stock Down 3.1 %

NASDAQ:LYFT traded down $0.42 during mid-day trading on Friday, hitting $13.05. 16,823,030 shares of the company's stock traded hands, compared to its average volume of 23,455,364. The company has a fifty day moving average of $13.64 and a 200 day moving average of $13.65. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market capitalization of $5.45 billion, a P/E ratio of 217.42, a P/E/G ratio of 1.90 and a beta of 2.16. 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 (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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, analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LYFT shares. Susquehanna dropped their price objective on Lyft from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Wedbush dropped their price objective on Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a report on Tuesday, February 18th. Bank of America boosted their price objective on Lyft from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Benchmark upgraded Lyft from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Monday, January 6th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and a consensus price target of $17.22.

Insider Activity at Lyft

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company's stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.07% of the stock is currently owned by corporate insiders.

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.