Sherbrooke Park Advisers LLC Acquires 31,500 Shares of Lyft, Inc. (NASDAQ:LYFT)

Sherbrooke Park Advisers LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 39.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 111,105 shares of the ride-sharing company’s stock after purchasing an additional 31,500 shares during the period. Lyft accounts for about 0.5% of Sherbrooke Park Advisers LLC’s portfolio, making the stock its 14th largest position. Sherbrooke Park Advisers LLC’s holdings in Lyft were worth $1,433,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Point72 Italy S.r.l. bought a new stake in Lyft during the 4th quarter valued at $2,450,000. Quantinno Capital Management LP purchased a new position in shares of Lyft in the 4th quarter worth approximately $157,000. Nuveen Asset Management LLC raised its stake in shares of Lyft by 8.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,458,557 shares of the ride-sharing company’s stock worth $18,815,000 after acquiring an additional 109,434 shares in the last quarter. Numerai GP LLC purchased a new stake in Lyft during the fourth quarter valued at approximately $135,000. Finally, Maven Securities LTD acquired a new stake in Lyft in the fourth quarter valued at approximately $161,000. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Lyft stock opened at $16.23 on Friday. The firm has a 50 day simple moving average of $12.22 and a 200-day simple moving average of $13.68. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 270.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.07.

Lyft (NASDAQ:LYFT) last announced its 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 analysts’ expectations of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Lyft news, 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 value of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider now directly owns 959,697 shares in the company, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock worth $486,841 over the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LYFT. Citigroup restated an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. DA Davidson restated a “neutral” rating and set a $15.00 price target on shares of Lyft in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Friday, May 9th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lyft from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lyft has a consensus rating of “Hold” and an average target price of $16.56.

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.