DNB Asset Management AS increased its position in Lyft, Inc. (NASDAQ: LYFT – Get Rating) by 10.9% in Q1, according to its latest communication with the SEC. The fund held 57,489 shares of the ride-hailing company after buying an additional 5,651 shares during the period. DNB Asset Management AS’ holdings in Lyft were worth $2,208,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. Walleye Capital LLC increased its position in Lyft stock by 42.5% during the fourth quarter. Walleye Capital LLC now owns 30,822 shares of the ride-hailing company valued at $1,317,000 after acquiring an additional 9,200 shares in the last quarter. Garde Capital Inc. bought a new position in Lyft in Q4 worth about $251,000. Cornerstone Advisory LLC bought a new position in Lyft in Q4 worth approximately $383,000. Castleview Partners LLC bought a new position in Lyft in Q4 worth around $50,000. Finally, 1832 Asset Management LP increased its position in Lyft by 32.7% in the 4th quarter. 1832 Asset Management LP now owns 847,510 shares of the rideshare company valued at $36,941,000 after acquiring an additional 208,880 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s shares.
In other news, insider Kristin Sverchek sold 3,938 shares of Lyft in a trade that took place on Tuesday, March 29. The shares were sold at an average price of $40.00, for a total transaction of $157,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders of the company own 5.77% of the shares of the company.
NASDAQ: LYFT opened at $16.34 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a leverage ratio of 0.68. The company’s 50-day simple moving average is $21.31 and its two-hundred-day simple moving average is $32.96. The stock has a market capitalization of $5.70 billion, a PE ratio of -7.14 and a beta of 1.84. Lyft, Inc. has a 52-week low of $13.73 and a 52-week high of $63.07.
Lyft (NASDAQ:LYFT – Get Rating) last released its quarterly results on Tuesday, May 3. The rideshare company reported ($0.37) EPS for the quarter, beating analyst consensus estimates of ($0.58) by $0.21. The company posted revenue of $875.60 million for the quarter, compared to $845.91 million expected by analysts. Lyft had a negative return on equity of 50.06% and a negative net margin of 22.42%. The company’s quarterly revenue increased 43.8% year over year. During the same period last year, the company made ($0.86) earnings per share. Sell-side analysts expect Lyft, Inc. to post -1.87 earnings per share for the current fiscal year.
Several stock analysts have published reports on LYFT shares. Truist Financial lowered its target price on Lyft stock from $58.00 to $50.00 in a Wednesday, May 4 research note. MKM Partners lowered its target price on Lyft shares from $49.00 to $32.00 in a Wednesday, May 4 research note. Jefferies Financial Group lowered its price target on Lyft from $34.00 to $20.00 in a Tuesday, May 31 report. Wedbush lowered its price target on Lyft from $50.00 to $32.00 in a Wednesday, May 4, report. Finally, Argus lowered its price target on Lyft from $72.00 to $41.00 in a Monday, May 16 report. Ten investment analysts gave the stock a hold rating and sixteen gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.00.
Lyft profile (Get an evaluation)
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that provide riders with personalized, on-demand access to a variety of mobility options. It supplies the carpooling market, which connects drivers with passengers; Express Drive, a flexible car rental program for drivers; Lyft Rentals, which provides vehicles for long-distance trips; and a network of shared bicycles and scooters in different cities to meet the needs of cyclists for short trips.
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