Semanteon Capital Management LP Purchases Shares of 13,980 Lyft, Inc. (NASDAQ:LYFT)

Semanteon Capital Management LP purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,980 shares of the ride-sharing company’s stock, valued at approximately $180,000.

A number of other hedge funds have also recently modified their holdings of the stock. Blueshift Asset Management LLC boosted its stake in shares of Lyft by 132.1% in the fourth quarter. Blueshift Asset Management LLC now owns 44,517 shares of the ride-sharing company’s stock worth $574,000 after buying an additional 25,335 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Lyft in the fourth quarter worth about $751,000. Teacher Retirement System of Texas boosted its stake in shares of Lyft by 237.6% in the fourth quarter. Teacher Retirement System of Texas now owns 306,016 shares of the ride-sharing company’s stock worth $3,948,000 after buying an additional 215,376 shares during the last quarter. West Tower Group LLC boosted its stake in shares of Lyft by 53.7% in the fourth quarter. West Tower Group LLC now owns 63,000 shares of the ride-sharing company’s stock worth $813,000 after buying an additional 22,000 shares during the last quarter. Finally, Brooklyn FI LLC purchased a new stake in shares of Lyft in the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the business’s 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 directly 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 legal filing with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’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 sale, the director now directly owns 911,922 shares of the company’s stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,407 shares of company stock worth $203,778. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LYFT shares. Royal Bank of Canada restated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research note on Monday, March 17th. Loop Capital reduced their price target on Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. DA Davidson reduced their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Susquehanna reduced their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a 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’s stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and an average price target of $17.03.

Lyft Price Performance

LYFT stock opened at $11.98 on Friday. The firm has a 50 day moving average of $13.05 and a 200-day moving average of $13.79. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.40. 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 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.

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

Lyft announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Lyft 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.