Amundi Raises Position in Lyft, Inc. (NASDAQ:LYFT)

Amundi raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 50.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,434 shares of the ride-sharing company’s stock after acquiring an additional 18,371 shares during the quarter. Amundi’s holdings in Lyft were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Lyft during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft in the fourth quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft in the fourth quarter worth $31,000. Byrne Asset Management LLC purchased a new stake in shares of Lyft in the fourth quarter worth $35,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Lyft in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 over the last quarter. Company insiders own 3.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Lyft in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Roth Capital reissued a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, BMO Capital Markets lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $17.03.

Lyft Stock Performance

LYFT stock opened at $11.72 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $13.10 and its two-hundred day simple moving average is $13.78. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 195.33, a PEG ratio of 1.90 and a beta of 2.15.

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

Lyft announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.