New Age Alpha Advisors LLC Sells 132,000 Shares of Lyft, Inc. (NASDAQ:LYFT)

New Age Alpha Advisors LLC cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 46.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the ride-sharing company’s stock after selling 132,000 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Lyft were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LYFT. Norges Bank acquired a new position in shares of Lyft during the fourth quarter worth $49,599,000. 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. Pacer Advisors Inc. increased its holdings in Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Lyft by 7,536.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock valued at $23,927,000 after purchasing an additional 1,830,533 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of 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 valued at $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYFT. Citigroup reaffirmed an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Evercore ISI cut their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets decreased their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Twenty-seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.03.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 in the last ninety days. 3.07% of the stock is currently owned by insiders.

Lyft Stock Down 4.7 %

LYFT opened at $11.57 on Monday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.64. The firm has a market capitalization of $4.84 billion, a P/E ratio of 192.83, a PEG ratio of 1.90 and a beta of 2.15. The company’s 50-day moving average is $12.94 and its 200 day moving average is $13.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 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%. Research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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

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.