XTX Topco Ltd Takes $580,000 Position in Lyft, Inc. (NASDAQ:LYFT)

XTX Topco Ltd purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 41,160 shares of the ride-sharing company’s stock, valued at approximately $580,000.

Several other institutional investors have also recently added to or reduced their stakes in LYFT. Vanguard Group Inc. grew its stake in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after purchasing an additional 782,736 shares during the last quarter. Primecap Management Co. CA raised its position in Lyft by 1.5% during the 2nd quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after buying an additional 94,710 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Lyft by 1.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after buying an additional 63,461 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lyft by 39.5% in the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after acquiring an additional 812,926 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Lyft in the fourth quarter valued at about $26,069,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

LYFT opened at $12.72 on Tuesday. Lyft, Inc. has a 1 year low of $8.85 and a 1 year high of $20.82. The company’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $14.62. The stock has a market capitalization of $5.13 billion, a PE ratio of -27.06 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. Lyft’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. As a group, sell-side analysts expect that Lyft, Inc. will post -0.16 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,164 shares of company stock valued at $470,513. Company insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Nomura upgraded Lyft from a “reduce” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. Fox Advisors upgraded Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Friday, June 7th. Melius initiated coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price on the stock. Finally, BMO Capital Markets cut their price target on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Twenty-six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.65.

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.