National Bank of Canada FI Purchases 804,328 Shares of Lyft, Inc. (NASDAQ:LYFT)

National Bank of Canada FI lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 360.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,027,628 shares of the ride-sharing company’s stock after acquiring an additional 804,328 shares during the period. National Bank of Canada FI owned 0.25% of Lyft worth $13,256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in Lyft by 53.9% during the 4th quarter. Alliancebernstein L.P. now owns 120,562 shares of the ride-sharing company’s stock valued at $1,555,000 after acquiring an additional 42,218 shares during the period. Schroder Investment Management Group boosted its position in shares of Lyft by 208.8% in the 4th quarter. Schroder Investment Management Group now owns 300,936 shares of the ride-sharing company’s stock worth $3,927,000 after purchasing an additional 203,475 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Lyft in the 4th quarter worth approximately $6,356,000. Brown Brothers Harriman & Co. increased its position in Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock valued at $46,000 after buying an additional 1,058 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Lyft by 26.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 58,238 shares of the ride-sharing company’s stock valued at $751,000 after buying an additional 12,102 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction on 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 transaction 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 the business’s 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 sale, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is currently owned by insiders.

Lyft Stock Performance

LYFT opened at $10.84 on Friday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 180.67, a PEG ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company has a fifty day moving average of $12.76 and a 200 day moving average of $13.81.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has authorized a share buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday. Cantor Fitzgerald decreased their target price on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. UBS Group reduced their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Citigroup reaffirmed an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. Finally, DA Davidson reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.66.

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.