Ieq Capital LLC Has $5.86 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Ieq Capital LLC boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 111.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 454,527 shares of the ride-sharing company’s stock after purchasing an additional 239,629 shares during the period. Ieq Capital LLC owned 0.11% of Lyft worth $5,863,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of Lyft by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock valued at $5,146,000 after buying an additional 49,138 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $1,681,000. KBC Group NV lifted its position in shares of Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after buying an additional 207,672 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Lyft by 59.6% in 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 buying an additional 142,880 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LYFT. Truist Financial lowered their target price on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. TD Cowen increased their target price on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. UBS Group lowered their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, Roth Mkm increased their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $17.22.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is currently owned by company insiders.

Lyft Trading Down 3.1 %

NASDAQ LYFT opened at $13.05 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 217.42, a price-to-earnings-growth ratio of 1.89 and a beta of 2.16. The business’s fifty day moving average is $13.66 and its 200 day moving average is $13.59.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has approved a stock buyback program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Lyft Company 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.