18,374 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,374 shares of the ride-sharing company’s stock, valued at approximately $234,000.

Several other large investors also recently made changes to their positions in LYFT. True Wealth Design LLC bought a new stake in shares of Lyft in the 3rd quarter worth approximately $27,000. Brown Brothers Harriman & Co. acquired a new position in Lyft in the second quarter worth approximately $35,000. International Assets Investment Management LLC bought a new position in shares of Lyft in the second quarter valued at $35,000. Capital Performance Advisors LLP bought a new position in shares of Lyft in the third quarter valued at $38,000. Finally, Quarry LP lifted its position in shares of Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after acquiring an additional 3,468 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 1.5 %

Lyft stock opened at $16.92 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The firm has a fifty day moving average price of $14.86 and a two-hundred day moving average price of $13.57. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -105.75, a P/E/G ratio of 4.98 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS. As a group, analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LYFT shares. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 target price (up from $17.00) on shares of Lyft in a research report on Thursday, November 7th. TD Cowen boosted their price objective on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. DA Davidson raised their target price on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.55.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 10,919 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,909 shares of company stock valued at $505,686. 3.07% of the stock is owned by company insiders.

Lyft Company 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.