Boothbay Fund Management LLC Sells 2,114 Shares of Lyft, Inc. (NASDAQ:LYFT)

Boothbay Fund Management LLC decreased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 25,392 shares of the ride-sharing company’s stock after selling 2,114 shares during the quarter. Boothbay Fund Management LLC’s holdings in Lyft were worth $328,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock worth $464,434,000 after purchasing an additional 984,907 shares in the last quarter. Pacer Advisors Inc. grew its stake in Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after acquiring an additional 6,365,727 shares during the period. Capital World Investors lifted its position in shares of Lyft by 49.4% during the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after acquiring an additional 2,240,478 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Lyft by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company’s stock worth $81,419,000 after acquiring an additional 443,109 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the 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 transaction, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,143 shares of company stock valued at $486,841 over the last quarter. 3.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research note on Monday, March 17th. KeyCorp restated a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Cantor Fitzgerald decreased their target price on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Wedbush cut their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Benchmark raised shares of 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. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.45.

Lyft Price Performance

LYFT stock opened at $12.65 on Friday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 210.83, a PEG ratio of 1.90 and a beta of 2.13. The firm’s 50-day moving average price is $11.76 and its two-hundred day moving average price is $13.60. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. As a group, equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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.