Gries Financial LLC Purchases New Position in Lyft, Inc. (NASDAQ:LYFT)

Gries Financial LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,499 shares of the ride-sharing company’s stock, valued at approximately $200,000.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Lyft in the 3rd quarter valued at $90,604,000. Maple Rock Capital Partners Inc. grew its stake 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 buying an additional 2,838,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after buying an additional 1,735,208 shares during the period. Point72 Asset Management L.P. purchased a new stake in Lyft in the third quarter valued at approximately $13,430,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Lyft by 10,225.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after acquiring an additional 420,274 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In related news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the transaction, the insider now directly owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 over the last quarter. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

Lyft stock opened at $13.56 on Friday. The stock has a market capitalization of $5.62 billion, a P/E ratio of -84.75, a P/E/G ratio of 1.74 and a beta of 2.14. Lyft, Inc. has a 12-month low of $8.93 and a 12-month 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 firm’s 50-day moving average is $14.57 and its two-hundred day moving average is $13.43.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LYFT. UBS Group lifted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI upped their target price on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Bank of America lowered their price target on Lyft from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday. Roth Mkm increased their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wedbush lowered their target price on Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.84.

About Lyft

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.