Optimist Retirement Group LLC Acquires New Stake in Lyft, Inc. (NASDAQ:LYFT)

Optimist Retirement Group LLC bought a new position in Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,786 shares of the ride-sharing company’s stock, valued at approximately $152,000.

A number of other large investors have also made changes to their positions in LYFT. Pacer Advisors Inc. purchased a new position in shares of Lyft in the third quarter worth approximately $90,604,000. Maple Rock Capital Partners Inc. grew its position in shares of 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 valued at $78,872,000 after acquiring an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Lyft by 27.2% during 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 period. Point72 Asset Management L.P. purchased a new stake in shares of Lyft in the 3rd quarter worth $13,430,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in Lyft by 10,225.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock worth $5,475,000 after purchasing an additional 420,274 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Down 4.6 %

NASDAQ LYFT opened at $13.42 on Thursday. The company has a fifty day moving average of $14.29 and a two-hundred day moving average of $13.46. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.88, a PEG ratio of 1.86 and a beta of 2.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly 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. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned ($0.02) EPS. Lyft’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, analysts predict that Lyft, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company reduced their price target on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Tigress Financial raised their target price on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their price target on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Roth Mkm raised their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 target price (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.78.

Insider Activity

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 stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.07% of the company’s stock.

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.