Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 124.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 793,254 shares of the ride-sharing company’s stock after buying an additional 439,404 shares during the quarter. Point72 Asset Management L.P. owned 0.24% of Lyft worth $50,118,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LYFT. Janney Montgomery Scott LLC raised its holdings in shares of Lyft by 2.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,795 shares of the ride-sharing company’s stock valued at $429,000 after purchasing an additional 164 shares in the last quarter. Berman Capital Advisors LLC raised its holdings in shares of Lyft by 75.7% in the 1st quarter. Berman Capital Advisors LLC now owns 543 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 234 shares in the last quarter. Clarius Group LLC raised its holdings in shares of Lyft by 2.5% in the 1st quarter. Clarius Group LLC now owns 10,076 shares of the ride-sharing company’s stock valued at $637,000 after purchasing an additional 244 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Lyft by 2.9% in the 1st quarter. Global Retirement Partners LLC now owns 9,692 shares of the ride-sharing company’s stock valued at $612,000 after purchasing an additional 269 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC raised its holdings in shares of Lyft by 17.5% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 1,910 shares of the ride-sharing company’s stock valued at $94,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Shares of NASDAQ:LYFT opened at $55.77 on Thursday. The stock has a market capitalization of $18.37 billion, a P/E ratio of -9.94 and a beta of 2.31. The company has a 50-day moving average price of $56.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46. Lyft, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $68.28.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, May 4th. The ride-sharing company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.98) by $0.63. The business had revenue of $609.00 million for the quarter, compared to the consensus estimate of $554.70 million. Lyft had a negative net margin of 88.32% and a negative return on equity of 80.71%. The business’s quarterly revenue was down 36.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.31) earnings per share. As a group, sell-side analysts forecast that Lyft, Inc. will post -2.51 earnings per share for the current fiscal year.

In related news, CAO Lisa Blackwood-Kapral sold 4,514 shares of the firm’s stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $53.77, for a total value of $242,717.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Keith Roberts sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $64.02, for a total transaction of $960,300.00. The disclosure for this sale can be found here. Insiders sold 171,051 shares of company stock valued at $10,830,870 in the last quarter. Company insiders own 22.86% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Daiwa Capital Markets upgraded shares of Lyft from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $59.00 to $56.00 in a report on Monday, May 10th. Truist Financial raised their price objective on shares of Lyft from $56.00 to $70.00 in a report on Tuesday, April 27th. Needham & Company LLC assumed coverage on shares of Lyft in a research report on Monday, May 3rd. They issued a “hold” rating on the stock. Wolfe Research assumed coverage on shares of Lyft in a research report on Thursday, April 1st. They issued a “peer perform” rating and a $54.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on shares of Lyft from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $69.69.

About Lyft

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 offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

Featured Article: Day Trading – Risk Worth the Reward?

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.