Lyft, Inc. $LYFT Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Lyft, Inc. (NASDAQ:LYFT) by 85.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,226 shares of the ride-sharing company’s stock after selling 1,131,796 shares during the period. Assenagon Asset Management S.A.’s holdings in Lyft were worth $2,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LYFT. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Lyft in the 4th quarter worth about $40,000. Huntington National Bank increased its position in shares of Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 1,374 shares during the last quarter. CI Investments Inc. raised its stake in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of 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 valued at $51,000 after purchasing an additional 2,587 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the transaction, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 69,196 shares of company stock worth $992,371. 0.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research analyst reports. Oppenheimer started coverage on Lyft in a report on Wednesday, June 17th. They set an “outperform” rating on the stock. Roth Mkm reiterated a “buy” rating and issued a $23.00 price target on shares of Lyft in a report on Friday, May 8th. Royal Bank Of Canada decreased their price objective on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Citigroup initiated coverage on shares of Lyft in a report on Wednesday, June 17th. They issued a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.40.

Lyft Price Performance

NASDAQ LYFT opened at $14.61 on Wednesday. The company has a 50-day moving average price of $14.02 and a two-hundred day moving average price of $15.28. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 2.13, a price-to-earnings-growth ratio of 0.91 and a beta of 1.82. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

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

About Lyft

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.