Swiss National Bank Buys 17,900 Shares of Lyft, Inc. (NASDAQ:LYFT)

Swiss National Bank lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 750,400 shares of the ride-sharing company’s stock after acquiring an additional 17,900 shares during the period. Swiss National Bank owned approximately 0.18% of Lyft worth $9,680,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in Lyft by 25.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,290,461 shares of the ride-sharing company’s stock valued at $29,547,000 after acquiring an additional 468,735 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Lyft in the 4th quarter valued at about $1,370,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lyft by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,914 shares of the ride-sharing company’s stock valued at $928,000 after purchasing an additional 4,246 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Lyft by 37.6% in the 4th quarter. AlphaQuest LLC now owns 30,928 shares of the ride-sharing company’s stock valued at $399,000 after purchasing an additional 8,448 shares during the last quarter. Finally, Amundi boosted its stake in shares of Lyft by 50.9% in the 4th quarter. Amundi now owns 54,434 shares of the ride-sharing company’s stock valued at $727,000 after purchasing an additional 18,371 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 2.0 %

NASDAQ LYFT opened at $11.98 on Friday. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.67. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 199.67, a PEG ratio of 1.90 and a beta of 2.15. 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 50 day moving average of $13.05 and a 200-day moving average of $13.77.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 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 expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was 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 of the company’s stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,407 shares of company stock worth $203,778. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LYFT. Susquehanna reduced their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets dropped their price target on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Citigroup reissued an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. Bank of America lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Truist Financial lowered their target price on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Twenty-six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.03.

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.