SBI Securities Co. Ltd. Invests $453,000 in Lyft, Inc. (NASDAQ:LYFT)

SBI Securities Co. Ltd. bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, Holdings Channel reports. The fund bought 35,092 shares of the ride-sharing company’s stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in Lyft during the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the fourth quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in Lyft during the fourth quarter valued at $31,000. Byrne Asset Management LLC acquired a new position in Lyft during the fourth quarter valued at $35,000. Finally, Capital Performance Advisors LLP acquired a new position in Lyft during the third quarter valued at $38,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

Lyft stock opened at $12.41 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The company has a market capitalization of $5.19 billion, a PE ratio of 206.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The business has a 50 day simple moving average of $13.50 and a 200 day simple moving average of $13.78.

Lyft (NASDAQ:LYFT) last posted its earnings results 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 return on equity of 8.03% and a net margin of 0.39%. On average, sell-side analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was 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 approximately $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock worth $203,778 in the last 90 days. 3.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYFT. Morgan Stanley upped their price target on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Susquehanna dropped their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Roth Capital reissued a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. UBS Group dropped their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Truist Financial dropped 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 research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average price target of $17.22.

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.