Lecap Asset Management Ltd. Sells 113,029 Shares of Lyft, Inc. (NASDAQ:LYFT)

Lecap Asset Management Ltd. cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 51.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,247 shares of the ride-sharing company’s stock after selling 113,029 shares during the period. Lecap Asset Management Ltd.’s holdings in Lyft were worth $1,371,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after purchasing an additional 80,675 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after acquiring an additional 1,735,208 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after acquiring an additional 235,510 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. grew its position in Lyft by 84.8% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after acquiring an additional 2,838,000 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now directly owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Up 0.7 %

LYFT opened at $14.17 on Friday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50-day moving average is $14.16 and its 200 day moving average is $13.46. The firm has a market capitalization of $5.88 billion, a P/E ratio of -88.56, a PEG ratio of 1.86 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) EPS. Research analysts expect that Lyft, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LYFT. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, January 6th. Truist Financial raised their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Bank of America decreased their price objective on Lyft from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group cut their target price on Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.78.

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.