Lyft, Inc. $LYFT Shares Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 823,200 shares of the ride-sharing company’s stock after buying an additional 259,450 shares during the period. Heartland Advisors Inc.’s holdings in Lyft were worth $10,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strs Ohio grew its holdings in shares of Lyft by 4,527.6% during the fourth quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after purchasing an additional 430,888 shares during the last quarter. West Tower Group LLC lifted its holdings in shares of Lyft by 207.6% in the 1st quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock worth $1,841,000 after purchasing an additional 93,432 shares during the last quarter. OP Asset Management Ltd acquired a new position in Lyft during the 1st quarter valued at approximately $992,000. Sivia Capital Partners LLC acquired a new position in Lyft during the 2nd quarter valued at approximately $470,000. Finally, Swedbank AB bought a new position in Lyft during the 4th quarter worth $108,472,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Down 2.9%

Lyft stock opened at $15.52 on Friday. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 2.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The firm’s 50 day moving average price is $14.34 and its two-hundred day moving average price is $14.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

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

Insider Buying and Selling

In related news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, 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 SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider owned 853,731 shares in the company, valued at approximately $12,805,965. The trade was a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 45,535 shares of company stock worth $637,456. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their target price on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. William Blair downgraded shares of Lyft to a “market perform” rating in a report on Wednesday, June 17th. BTIG Research upgraded shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Jefferies Financial Group increased their price objective on shares of Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Finally, Truist Financial lifted their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.40.

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.