Susquehanna Fundamental Investments LLC Takes $3.35 Million Position in Lyft, Inc. (NASDAQ:LYFT)

Susquehanna Fundamental Investments LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 237,544 shares of the ride-sharing company’s stock, valued at approximately $3,349,000. Susquehanna Fundamental Investments LLC owned 0.06% of Lyft at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LYFT. Commonwealth Equity Services LLC lifted its holdings in Lyft by 15.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after buying an additional 5,184 shares in the last quarter. Swiss National Bank boosted its holdings in Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after purchasing an additional 13,300 shares during the last quarter. Corient Private Wealth LLC grew its stake in Lyft by 163.9% during the 4th quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after purchasing an additional 62,623 shares in the last quarter. Range Financial Group LLC purchased a new stake in Lyft during the 1st quarter worth approximately $470,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft in the 1st quarter valued at approximately $41,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Performance

Shares of LYFT opened at $12.84 on Monday. Lyft, Inc. has a 52-week low of $8.85 and a 52-week high of $20.82. The firm has a market capitalization of $5.18 billion, a PE ratio of -27.32 and a beta of 2.04. The firm has a 50-day moving average price of $11.57 and a 200 day moving average price of $14.49. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business 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%. The business’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) earnings per share. On average, sell-side analysts anticipate that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush dropped their price target on shares of Lyft from $19.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $13.00 target price on shares of Lyft in a research note on Monday, September 23rd. TD Cowen decreased their price target on Lyft from $18.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Gordon Haskett raised Lyft from a “hold” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $20.00 in a report on Friday, June 7th. Finally, Citigroup reduced their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Twenty-six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.65.

Insider Activity

In other news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the sale, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at $8,988,544.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is owned by company insiders.

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.