Worldquant Millennium Advisors LLC Sells 131,581 Shares of Lyft, Inc. (NASDAQ:LYFT)

Worldquant Millennium Advisors LLC trimmed its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 79.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,667 shares of the ride-sharing company's stock after selling 131,581 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Lyft were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions 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. increased its position 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 buying an additional 2,838,000 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position 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 buying an additional 1,735,208 shares in the last quarter. National Bank of Canada FI increased its position in Lyft by 27,739.2% in the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company's stock valued at $16,665,000 after buying an additional 1,188,625 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Lyft in the 3rd quarter valued at about $13,430,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research analyst reports. DA Davidson boosted their target price on Lyft from $11.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on Lyft from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Cantor Fitzgerald boosted their price objective on Lyft from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Wells Fargo & Company reissued a "market perform" rating on shares of Lyft in a report on Friday, October 18th. Finally, UBS Group boosted their price objective on Lyft from $13.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.77.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.36 during trading on Monday, hitting $16.30. 14,746,592 shares of the company were exchanged, compared to its average volume of 15,058,407. The company has a market cap of $6.76 billion, a PE ratio of -101.88, a P/E/G ratio of 4.62 and a beta of 2.09. The stock has a 50 day moving average of $15.11 and a 200 day moving average of $13.58. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business's quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) earnings per share. As a group, equities research analysts predict that Lyft, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Lyft

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction on 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 owns 314,492 shares of the company's stock, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,909 shares of company stock valued at $505,686. 3.07% of the stock is currently owned by company insiders.

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.