Jump Financial LLC Makes New $5.33 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Jump Financial LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 413,303 shares of the ride-sharing company’s stock, valued at approximately $5,332,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new position in shares of Lyft in the 4th quarter valued at about $31,000. Byrne Asset Management LLC purchased a new position in Lyft in the fourth quarter valued at about $35,000. Plato Investment Management Ltd acquired a new position in Lyft during the fourth quarter worth $35,000. Finally, Harbour Investments Inc. boosted its position in shares of Lyft by 259.7% in the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock worth $203,778 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Roth Capital reiterated a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Susquehanna decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. UBS Group dropped their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. KeyCorp reissued a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Finally, DA Davidson reissued a “neutral” rating and set a $15.00 target price on shares of Lyft in a research report on Wednesday. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $16.55.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $10.84 on Thursday. The stock has a 50 day simple moving average of $12.16 and a 200-day simple moving average of $13.67. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The company has a market cap of $4.53 billion, a PE ratio of 180.67, a P/E/G ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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, equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.