American Century Companies Inc. Increases Stock Holdings in Lyft, Inc. $LYFT

American Century Companies Inc. increased its position in Lyft, Inc. (NASDAQ:LYFT) by 140.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,002,652 shares of the ride-sharing company’s stock after acquiring an additional 586,080 shares during the quarter. American Century Companies Inc.’s holdings in Lyft were worth $15,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. Vanguard Group Inc. boosted its holdings in Lyft by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after purchasing an additional 2,046,639 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after purchasing an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in shares of Lyft in the first quarter worth $130,434,000. AQR Capital Management LLC boosted its stake in Lyft by 103.3% during the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after buying an additional 4,980,876 shares during the period. Finally, Geode Capital Management LLC grew its position in Lyft by 0.3% during the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after buying an additional 20,354 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $22.24 on Wednesday. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 58.53, a PEG ratio of 2.13 and a beta of 1.99. The stock has a fifty day moving average of $21.08 and a 200 day moving average of $17.81. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LYFT shares. Roth Capital set a $25.00 price target on shares of Lyft and gave the stock a “buy” rating in a report on Wednesday, October 29th. Jefferies Financial Group raised their price target on Lyft from $15.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Royal Bank Of Canada lifted their price target on Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley increased their price objective on Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Finally, Wall Street Zen cut Lyft from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Eleven research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.85.

Insider Activity

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the sale, the insider directly owned 835,782 shares of the company’s stock, valued at approximately $16,715,640. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jill Beggs sold 1,466 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $20.25, for a total value of $29,686.50. Following the transaction, the director owned 34,278 shares in the company, valued at $694,129.50. This trade represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.07% of the company’s stock.

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.