Vinva Investment Management Ltd Sells 1,016 Shares of Lyft, Inc. (NASDAQ:LYFT)

Vinva Investment Management Ltd lessened its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,746 shares of the ride-sharing company’s stock after selling 1,016 shares during the period. Vinva Investment Management Ltd’s holdings in Lyft were worth $203,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC bought a new position in Lyft during the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lyft in the fourth quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in Lyft in the fourth quarter valued at $31,000. Byrne Asset Management LLC bought a new stake in Lyft in the fourth quarter valued at $35,000. Finally, Plato Investment Management Ltd bought a new stake in Lyft in the fourth quarter valued at $35,000. Institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on LYFT shares. Loop Capital decreased their price target on shares of Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, January 6th. Cantor Fitzgerald decreased their target price on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $17.03.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,407 shares of company stock valued at $203,778. Company insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $11.98 on Friday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 199.67, a PEG ratio of 1.90 and a beta of 2.15. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $13.05 and its 200 day moving average is $13.77. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.67.

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

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

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.