Voya Investment Management LLC Raises Holdings in Lyft, Inc. (NASDAQ:LYFT)

Voya Investment Management LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,536 shares of the ride-sharing company’s stock after buying an additional 5,883 shares during the period. Voya Investment Management LLC owned about 0.06% of Lyft worth $3,206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kerrisdale Advisers LLC purchased a new stake in shares of Lyft during the fourth quarter valued at approximately $286,000. Orvieto Partners L.P. bought a new stake in Lyft during the fourth quarter valued at $903,000. Adage Capital Partners GP L.L.C. grew its position in shares of Lyft by 181.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,112,000 shares of the ride-sharing company’s stock valued at $27,245,000 after buying an additional 1,362,000 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of Lyft by 84.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 4,338 shares of the ride-sharing company’s stock valued at $57,000 after purchasing an additional 1,984 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Lyft by 428.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,270,203 shares of the ride-sharing company’s stock worth $16,386,000 after buying an additional 1,030,014 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Logan Green sold 11,411 shares of Lyft stock in a transaction that occurred on Thursday, February 27th. The shares were 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 $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock valued at $486,841 in the last 90 days. 3.07% of the stock is currently owned by company insiders.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $12.65 on Friday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07. The company has a market cap of $5.29 billion, a P/E ratio of 210.83, a P/E/G ratio of 1.90 and a beta of 2.13. The business’s 50 day moving average is $11.76 and its two-hundred day moving average is $13.60. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

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%. On average, equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush decreased their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research note on Wednesday, March 26th. Truist Financial decreased their price target on shares of Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Susquehanna dropped their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, DA Davidson reissued a “neutral” rating and set a $15.00 target price on shares of Lyft in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.45.

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.