Zurcher Kantonalbank Zurich Cantonalbank Has $928,000 Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 71,914 shares of the ride-sharing company’s stock after buying an additional 4,246 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lyft were worth $928,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Lyft by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after buying an additional 80,675 shares during the period. Pacer Advisors Inc. raised 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 buying an additional 2,302,248 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Lyft by 27.2% during 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 buying an additional 1,735,208 shares during the period. Primecap Management Co. CA raised its holdings in shares of Lyft by 3.8% in the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after purchasing an additional 235,510 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in shares of Lyft by 84.8% in 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 purchasing an additional 2,838,000 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was 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 of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 over the last quarter. 3.07% of the stock is owned by company insiders.

Lyft Trading Up 0.3 %

LYFT opened at $11.75 on Friday. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a 50-day simple moving average of $13.07 and a 200 day simple moving average of $13.77. 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 stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 195.83, a P/E/G 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%. Analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LYFT. Roth Capital reiterated a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Susquehanna lowered their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, January 6th. Finally, Bank of America boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Twenty-six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus price target of $17.03.

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.