Lyft, Inc. $LYFT Shares Purchased by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 125.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,417 shares of the ride-sharing company’s stock after purchasing an additional 43,617 shares during the period. Van Berkom & Associates Inc.’s holdings in Lyft were worth $1,519,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Heartland Advisors Inc. increased its stake in shares of Lyft by 68.2% in the 3rd quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock valued at $13,092,000 after buying an additional 241,250 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Lyft in the 3rd quarter valued at $2,080,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lyft by 15.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 426,314 shares of the ride-sharing company’s stock valued at $9,029,000 after buying an additional 56,117 shares during the period. AlphaQuest LLC grew its stake in shares of Lyft by 634.6% during the third quarter. AlphaQuest LLC now owns 88,899 shares of the ride-sharing company’s stock worth $1,957,000 after purchasing an additional 76,798 shares during the period. Finally, Carrera Capital Advisors acquired a new stake in shares of Lyft during the third quarter worth $2,222,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYFT. Evercore set a $21.00 price objective on Lyft in a research note on Wednesday, February 11th. Wedbush decreased their price objective on Lyft from $16.00 to $13.00 and set an “underperform” rating for the company in a research note on Wednesday, February 11th. Cantor Fitzgerald decreased their price objective on Lyft from $21.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Susquehanna reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Lyft in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Lyft from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.55.

Insider Activity

In other news, Director Jill Beggs sold 2,093 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director directly owned 32,185 shares in the company, valued at $447,049.65. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $354,915.00. Following the completion of the sale, the insider owned 916,022 shares in the company, valued at approximately $13,740,330. This trade represents a 2.52% decrease in their ownership of the stock. 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. Insiders have sold a total of 54,699 shares of company stock worth $771,756 over the last three months. Corporate insiders own 0.92% of the company’s stock.

Lyft Stock Down 2.5%

NASDAQ:LYFT opened at $14.06 on Tuesday. Lyft, Inc. has a 1 year low of $12.31 and a 1 year high of $25.54. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.88 and a beta of 1.84. The stock has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $17.35.

Lyft announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.