Primecap Management Co. CA Has $73.67 Million Stock Holdings in Lyft, Inc. $LYFT

Primecap Management Co. CA cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,674,220 shares of the ride-sharing company’s stock after selling 1,530,720 shares during the quarter. Primecap Management Co. CA’s holdings in Lyft were worth $73,666,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LYFT. Neuberger Berman Group LLC grew its holdings in Lyft by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after purchasing an additional 868 shares during the period. Parallel Advisors LLC boosted 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 worth $65,000 after purchasing an additional 1,160 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 valued at $31,000 after purchasing an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Lyft by 32.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock valued at $83,000 after purchasing an additional 1,304 shares during the period. Finally, XTX Topco Ltd lifted its stake 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 worth $586,000 after buying an additional 1,584 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of LYFT stock opened at $21.21 on Thursday. The business has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $17.46. The company has a market cap of $8.47 billion, a P/E ratio of 55.82, a P/E/G ratio of 2.16 and a beta of 2.36. 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 twelve month low of $9.66 and a twelve month high of $25.54.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Zephirin Group increased their target price on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. UBS Group lifted their price target on shares of Lyft from $15.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Truist Financial increased their price target on Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Morgan Stanley raised their price objective on Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.85.

Insider Activity at Lyft

In other news, CEO John David Risher purchased 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at $9,064,085.16. The trade was a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,427 shares of company stock valued at $1,024,086 in the last quarter. Insiders own 3.07% of the company’s stock.

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.