Union Square Park Capital Management LLC lowered its position in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 39.4% during the 1st quarter, Holdings Channel reports. The firm owned 300,000 shares of the ride-sharing company’s stock after selling 195,000 shares during the quarter. Lyft comprises approximately 2.3% of Union Square Park Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Union Square Park Capital Management LLC’s holdings in Lyft were worth $3,990,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Lyft by 7.4% in the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after buying an additional 1,773,438 shares during the period. Renaissance Technologies LLC increased its stake in shares of Lyft by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after buying an additional 1,320,938 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Norges Bank bought a new stake in shares of Lyft in the fourth quarter valued at about $109,987,000. Finally, Swedbank AB purchased a new stake in Lyft in the fourth quarter worth about $108,472,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares of the company’s stock, valued at approximately $9,594,254.61. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the sale, the chief accounting officer owned 335,463 shares of the company’s stock, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,535 shares of company stock valued at $637,456 in the last ninety days. 0.92% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Stock Report on LYFT
Lyft Stock Up 1.3%
NASDAQ:LYFT opened at $14.20 on Friday. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The stock has a market capitalization of $5.39 billion, a P/E ratio of 2.07, a P/E/G ratio of 0.84 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The company’s 50-day simple moving average is $14.46 and its 200-day simple moving average is $14.77.
Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. On average, equities analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.
Lyft Company Profile
Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.
Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.
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