Mirae Asset Global Investments Co. Ltd. Buys 1,304 Shares of Lyft, Inc. $LYFT

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 32.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,286 shares of the ride-sharing company’s stock after acquiring an additional 1,304 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lyft were worth $83,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its stake in Lyft by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after purchasing an additional 868 shares during the last quarter. Amalgamated Bank lifted its stake in Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after purchasing an additional 892 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Lyft by 11.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after purchasing an additional 914 shares during the last quarter. Parallel Advisors LLC lifted its stake in Lyft by 39.4% in the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock worth $65,000 after purchasing an additional 1,160 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,427 shares of company stock worth $1,252,686 over the last 90 days. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $19.25 on Monday. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50-day moving average is $18.26 and its 200 day moving average is $15.58. The stock has a market capitalization of $7.82 billion, a P/E ratio of 80.21, a P/E/G ratio of 3.01 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. Lyft’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on LYFT shares. Sanford C. Bernstein boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. UBS Group boosted their price objective on shares of Lyft from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Mizuho initiated coverage on shares of Lyft in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $24.00 price objective on the stock. Roth Capital upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, August 7th. Finally, Oppenheimer boosted their price objective on shares of Lyft from $17.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average target price of $19.02.

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.