Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in Lyft, Inc. (NASDAQ:LYFT) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,114,166 shares of the ride-sharing company’s stock after acquiring an additional 1,735,208 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.98% of Lyft worth $103,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Lyft by 0.4% in the third 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 worth $230,174,000 after buying an additional 80,675 shares during the period. Pacer Advisors Inc. bought a new stake in Lyft in the 3rd quarter valued at approximately $90,604,000. Primecap Management Co. CA raised its stake in Lyft by 3.8% in 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 during the period. Bank of New York Mellon Corp grew its holdings in Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after buying an additional 812,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Lyft by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after acquiring an additional 167,400 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Down 1.1 %

Shares of NASDAQ:LYFT opened at $17.17 on Tuesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The business’s 50 day moving average price is $14.78 and its 200-day moving average price is $13.56. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. Research analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,909 shares of company stock worth $505,686 in the last three months. Insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets upped their price objective on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Royal Bank of Canada cut their price objective on Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Roth Mkm boosted their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial upped their target price on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, TD Cowen increased their price target on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.55.

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.