18,865 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Advisory Services Network LLC

Advisory Services Network LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the fourth quarter, HoldingsChannel reports. The fund acquired 18,865 shares of the ride-sharing company’s stock, valued at approximately $243,000.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC bought a new position in shares of Lyft in the fourth quarter worth $31,000. Plato Investment Management Ltd acquired a new position in Lyft in the fourth quarter valued at about $35,000. Byrne Asset Management LLC bought a new stake in Lyft during the fourth quarter worth about $35,000. Finally, Harbour Investments Inc. grew its stake in Lyft by 259.7% during the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of several analyst reports. Cantor Fitzgerald decreased their price objective on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Wedbush lowered their price target on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on Lyft from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, January 6th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have assigned 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 has a consensus rating of “Hold” and a consensus target price of $16.45.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the 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 sale, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by company insiders.

Lyft Trading Up 3.0 %

Shares of NASDAQ:LYFT opened at $11.16 on Friday. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The business’s fifty day simple moving average is $12.02 and its 200-day simple moving average is $13.65. The company has a market capitalization of $4.66 billion, a PE ratio of 186.00, a P/E/G ratio of 1.90 and a beta of 2.13. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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%. As a group, equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.