Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 45.7% during the fourth quarter, Holdings Channel reports. The firm owned 175,488 shares of the ride-sharing company’s stock after buying an additional 55,045 shares during the period. Victory Capital Management Inc.’s holdings in Lyft were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in LYFT. Pacer Advisors Inc. bought a new position in Lyft during the 3rd quarter worth $90,604,000. Maple Rock Capital Partners Inc. boosted its holdings in shares of Lyft by 84.8% during the third 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. Los Angeles Capital Management LLC grew its position in shares of Lyft by 7,536.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after acquiring an additional 1,830,533 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after acquiring an additional 1,735,208 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Lyft in the 3rd quarter valued at about $13,430,000. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Lyft stock opened at $12.03 on Tuesday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The firm’s 50 day simple moving average is $13.19 and its 200-day simple moving average is $13.80. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The company has a market cap of $5.03 billion, a P/E ratio of 200.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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 EPS for the current year.

Lyft announced that its board has initiated a share repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were 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 $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LYFT has been the subject of several recent analyst reports. Tigress Financial upped their target price on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Bank of America boosted their price objective on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Roth Capital restated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Cantor Fitzgerald reduced their price target on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, January 6th. Twenty-six 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 stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and a consensus price target of $17.13.

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.