AQR Capital Management LLC Boosts Holdings in Lyft, Inc. $LYFT

AQR Capital Management LLC grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 144.9% during the 2nd quarter, Holdings Channel reports. The firm owned 24,009,925 shares of the ride-sharing company’s stock after purchasing an additional 14,205,143 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of Lyft worth $378,396,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC lifted its stake in Lyft by 3.7% in the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock valued at $290,000 after buying an additional 868 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Lyft by 3.8% during the second quarter. Main Street Financial Solutions LLC now owns 24,688 shares of the ride-sharing company’s stock valued at $389,000 after acquiring an additional 909 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Lyft by 39.4% in the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock valued at $65,000 after acquiring an additional 1,160 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 valued at $31,000 after acquiring an additional 1,203 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lyft by 32.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock worth $83,000 after acquiring an additional 1,304 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the transaction, the insider owned 835,782 shares of the company’s stock, valued at $16,715,640. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Prashant Aggarwal sold 96,900 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $2,160,870.00. Following the transaction, the director owned 874,369 shares of the company’s stock, valued at approximately $19,498,428.70. This represents a 9.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 202,049 shares of company stock valued at $4,470,738 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Lyft Trading Down 0.7%

Shares of LYFT opened at $20.37 on Friday. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $25.54. The firm has a market capitalization of $8.13 billion, a P/E ratio of 53.61, a P/E/G ratio of 2.04 and a beta of 1.99. The firm has a 50-day moving average price of $21.01 and a 200 day moving average price of $18.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76.

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

Analyst Ratings Changes

Several research analysts recently commented on LYFT shares. Roth Capital set a $25.00 price objective on Lyft and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Wedbush raised their price target on shares of Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. BMO Capital Markets upped their price objective on shares of Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group cut their price objective on shares of Lyft from $23.00 to $22.00 and set a “hold” rating for the company in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.92.

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.