Verition Fund Management LLC Boosts Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Verition Fund Management LLC boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFTFree Report) by 201.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 485,153 shares of the ride-sharing company’s stock after acquiring an additional 324,061 shares during the period. Verition Fund Management LLC’s holdings in Lyft were worth $7,272,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in shares of Lyft in the 4th quarter worth $1,302,000. Seven Eight Capital LP grew its stake in shares of Lyft by 3,901.0% in the 4th quarter. Seven Eight Capital LP now owns 488,366 shares of the ride-sharing company’s stock worth $7,321,000 after buying an additional 476,160 shares in the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Lyft in the 4th quarter worth $204,000. Exencial Wealth Advisors LLC purchased a new position in shares of Lyft in the 4th quarter worth $420,000. Finally, Blueshift Asset Management LLC grew its stake in shares of Lyft by 163.0% in the 4th quarter. Blueshift Asset Management LLC now owns 292,519 shares of the ride-sharing company’s stock worth $4,385,000 after buying an additional 181,310 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Trading Down 3.3 %

Shares of LYFT opened at $15.08 on Tuesday. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82. The company has a 50-day moving average of $16.76 and a 200 day moving average of $15.60. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of -32.08 and a beta of 2.09. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82.

Lyft (NASDAQ:LYFTGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, research analysts expect that Lyft, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent research reports. Tigress Financial lifted their price objective on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Gordon Haskett raised shares of Lyft from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $24.00 price objective (up from $23.00) on shares of Lyft in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Loop Capital raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.04.

View Our Latest Report on Lyft

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the sale, the chief accounting officer now owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the sale, the chief accounting officer now owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,033 shares of company stock worth $4,782,237. 3.07% of the stock is currently owned by corporate insiders.

Lyft Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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