35,092 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,092 shares of the ride-sharing company’s stock, valued at approximately $453,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in Lyft by 14.0% during the 4th quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock worth $5,146,000 after acquiring an additional 49,138 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Lyft by 32.4% during 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 during the last quarter. Paragon Capital Management Inc. purchased a new stake in Lyft during the 4th quarter worth approximately $1,681,000. KBC Group NV increased its holdings in Lyft by 354.9% during the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after purchasing an additional 207,672 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Lyft by 7,536.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after purchasing an additional 1,830,533 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYFT has been the topic of several analyst reports. TD Cowen lifted their price objective on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Roth Mkm lifted their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial dropped their price objective on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Citigroup restated an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, UBS Group lowered their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.22.

Lyft Trading Down 2.0 %

Shares of LYFT stock opened at $12.41 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The stock has a fifty day moving average of $13.50 and a two-hundred day moving average of $13.78. The firm has a market capitalization of $5.19 billion, a PE ratio of 206.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

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

Lyft announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by company insiders.

Lyft 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.