Allianz Asset Management GmbH raised its stake in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 2,586.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,233,107 shares of the ride-sharing company’s stock after buying an additional 1,187,207 shares during the quarter. Allianz Asset Management GmbH owned 0.29% of Lyft worth $19,434,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its position 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 acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Lyft in the second quarter worth approximately $32,000. GAMMA Investing LLC grew its position in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after acquiring an additional 1,237 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft in the first quarter worth approximately $35,000. Finally, SRH Advisors LLC bought a new stake in Lyft in the second quarter worth approximately $62,000. Institutional investors and hedge funds own 83.07% of the company’s stock.
Analyst Ratings Changes
LYFT has been the subject of several recent research reports. Bank of America boosted their target price on shares of Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, September 18th. Jefferies Financial Group boosted their target price on shares of Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Morgan Stanley boosted their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Oppenheimer upped their price objective on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Mizuho began coverage on shares of Lyft in a report on Tuesday, September 30th. They set a “neutral” rating and a $24.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.12.
Insider Activity at Lyft
In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher bought 5,926 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 in the last ninety days. 3.07% of the stock is currently owned by insiders.
Lyft Price Performance
NASDAQ LYFT opened at $19.53 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $18.85 and a 200 day simple moving average of $15.86. The company has a market cap of $7.94 billion, a P/E ratio of 81.38, a P/E/G ratio of 3.52 and a beta of 2.40. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50.
Lyft (NASDAQ:LYFT – Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.
Lyft 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.
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