Neuberger Berman Group LLC Grows Stock Holdings in Lyft, Inc. $LYFT

Neuberger Berman Group LLC grew its position in Lyft, Inc. (NASDAQ:LYFT) by 101.0% during the second quarter, Holdings Channel reports. The institutional investor owned 49,121 shares of the ride-sharing company’s stock after acquiring an additional 24,680 shares during the quarter. Neuberger Berman Group LLC’s holdings in Lyft were worth $774,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Lyft by 39.4% during the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock valued at $65,000 after acquiring an additional 1,160 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lyft by 32.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock worth $83,000 after purchasing an additional 1,304 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Lyft by 3.3% during the 1st quarter. XTX Topco Ltd now owns 49,375 shares of the ride-sharing company’s stock valued at $586,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Lyft by 4.0% in the 1st quarter. Boston Partners now owns 50,903 shares of the ride-sharing company’s stock worth $604,000 after purchasing an additional 1,970 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LYFT. Bank of America upped their target price on Lyft from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, September 18th. Cowen restated a “buy” rating on shares of Lyft in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price objective on shares of Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Zephirin Group lifted their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.85.

Lyft Trading Up 4.3%

Shares of NASDAQ:LYFT opened at $21.02 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a 52-week low of $9.66 and a 52-week 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. The business has a 50-day moving average price of $21.10 and a 200-day moving average price of $17.73.

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

Insider Activity

In other Lyft news, CEO John David Risher acquired 5,926 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at approximately $9,064,085.16. This trade represents a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.