RD Finance Ltd Makes New $393,000 Investment in Lyft, Inc. (NASDAQ:LYFT)

RD Finance Ltd acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 1st quarter, Holdings Channel reports. The fund acquired 33,100 shares of the ride-sharing company’s stock, valued at approximately $393,000. Lyft comprises about 0.3% of RD Finance Ltd’s investment portfolio, making the stock its 28th largest holding.

Several other large investors also recently added to or reduced their stakes in the stock. Amalgamated Bank increased its stake in Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after acquiring an additional 892 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Lyft by 11.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock valued at $107,000 after buying an additional 914 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock valued at $207,000 after buying an additional 970 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Lyft by 42.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock valued at $46,000 after buying an additional 1,058 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lyft by 1.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company’s stock valued at $1,081,000 after buying an additional 1,132 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lyft news, CEO John David Risher bought 6,538 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the transaction, the chief executive officer directly owned 11,791,340 shares of the company’s stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director owned 20,467 shares in the company, valued at $335,863.47. This trade represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock valued at $347,159 over the last quarter. Insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of LYFT opened at $14.16 on Tuesday. The business’s 50-day moving average is $15.38 and its two-hundred day moving average is $13.71. The company has a market capitalization of $5.92 billion, a P/E ratio of 94.40, a P/E/G ratio of 2.81 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. Lyft’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. Research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

LYFT has been the topic of a number of analyst reports. Sanford C. Bernstein upped their target price on Lyft from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Friday, May 9th. Barclays boosted their price target on Lyft from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. TD Cowen upgraded Lyft from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $21.00 in a report on Tuesday, June 24th. Finally, Oppenheimer upped their target price on Lyft from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.95.

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.