Lyft, Inc. $LYFT Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,521,652 shares of the ride-sharing company’s stock after buying an additional 376,661 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lyft were worth $55,501,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after acquiring an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after purchasing an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in shares of Lyft during the first quarter valued at $130,434,000. AQR Capital Management LLC boosted its position in shares of Lyft by 103.3% in the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after purchasing an additional 4,980,876 shares during the period. Finally, Geode Capital Management LLC increased its stake in Lyft by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after purchasing an additional 20,354 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

LYFT opened at $21.02 on Friday. The stock has a fifty day moving average price of $21.10 and a 200 day moving average price of $17.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 55.32, a PEG ratio of 2.09 and a beta of 2.36.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Lyft news, CEO John David Risher acquired 5,926 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the sale, the chief financial officer owned 525,759 shares of the company’s stock, valued at $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LYFT has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. TD Cowen lifted their price objective on shares of Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group raised their target price on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. DA Davidson set a $22.00 price target on Lyft in a report on Thursday, November 6th. Finally, Sanford C. Bernstein increased their price objective on Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, November 10th. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.85.

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.