Pacer Advisors Inc. Purchases 2,302,248 Shares of Lyft, Inc. (NASDAQ:LYFT)

Pacer Advisors Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 32.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,408,466 shares of the ride-sharing company’s stock after buying an additional 2,302,248 shares during the quarter. Pacer Advisors Inc. owned approximately 2.27% of Lyft worth $121,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Lyft by 59.6% during the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after acquiring an additional 142,880 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Lyft by 10,225.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after purchasing an additional 420,274 shares during the period. Sanctuary Advisors LLC bought a new position in Lyft during the 2nd quarter valued at approximately $388,000. New York State Teachers Retirement System bought a new position in Lyft during the 3rd quarter valued at approximately $423,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Lyft in the 2nd quarter worth approximately $3,349,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,242 shares of company stock valued at $427,330. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $13.80 on Monday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a fifty day moving average price of $14.76 and a 200-day moving average price of $13.41. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the business posted ($0.02) EPS. Lyft’s revenue for the quarter was up 31.6% compared to the same quarter last year. Analysts anticipate that Lyft, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on LYFT shares. Truist Financial upped their target price on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wedbush dropped their target price on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. UBS Group boosted their price target on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average price target of $17.84.

Lyft 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.