Hsbc Holdings PLC Has $12.28 Million Position in Lyft, Inc. $LYFT

Hsbc Holdings PLC boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 161.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 635,593 shares of the ride-sharing company’s stock after purchasing an additional 392,053 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Lyft worth $12,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYFT. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Lyft in the fourth quarter worth $26,000. International Assets Investment Management LLC acquired a new position in Lyft in the 4th quarter valued at $40,000. Huntington National Bank grew its stake in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the last quarter. CI Investments Inc. raised its holdings in Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 653 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Lyft by 410.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 2,587 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Key Stories Impacting Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft shares got a lift after reports that strong Prime Day sales data and falling Treasury yields improved sentiment toward digital platforms, helping push the stock higher intraday. Why Is Lyft (LYFT) Stock Rocketing Higher Today
• Positive Sentiment: Tigress Financial reaffirmed its Buy rating on Lyft and set a $28 price target, signaling meaningful upside from current levels. Benzinga report on Tigress Financial rating
• Positive Sentiment: Lyft announced new multi-sensor safety standards for autonomous vehicles, which could improve its positioning with regulators and AV partners over the long term. Lyft Sets New Multi Sensor Safety Rules For Autonomous Vehicles
• Positive Sentiment: Boston’s new pilot program allowing taxi drivers to accept Uber and Lyft ride requests may modestly support ride availability and network usage in that market. Boston taxi drivers can now accept Uber, Lyft ride requests under terms of new pilot program, city says
• Neutral Sentiment: Lyft is expanding a local transit-related presence in El Dorado, but the near-term financial impact is unclear. Lyft driving coming to El Dorado
• Neutral Sentiment: Short-interest data showed no meaningful change because reported shares were zero, so it does not provide a clear trading signal.
• Negative Sentiment: Lyft underperformed the broader market in the latest session, reflecting selling pressure and a weaker short-term trading tone. Lyft Suffers a Larger Drop Than the General Market: Key Insights

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Tigress Financial reissued a “buy” rating and set a $28.00 target price on shares of Lyft in a research report on Wednesday. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, June 17th. Truist Financial lifted their price objective on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. William Blair cut Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Finally, Citigroup initiated coverage on Lyft in a research note on Wednesday, June 17th. They set a “buy” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.23.

Insider Transactions at Lyft

In other news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their ownership of the stock. 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 a total of 69,196 shares of company stock worth $992,371 over the last 90 days. Insiders own 0.92% of the company’s stock.

Lyft Stock Performance

NASDAQ LYFT opened at $14.08 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 2.06, a P/E/G ratio of 0.85 and a beta of 1.82. The company’s fifty day moving average is $14.02 and its two-hundred day moving average is $15.42. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted $0.01 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts forecast that Lyft, Inc. will post 0.69 EPS for the current year.

Lyft 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.