TB Alternative Assets Ltd. Raises Stock Position in Lyft, Inc. (NASDAQ:LYFT)

TB Alternative Assets Ltd. lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 62.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 529,300 shares of the ride-sharing company’s stock after buying an additional 202,700 shares during the period. Lyft makes up about 2.6% of TB Alternative Assets Ltd.’s portfolio, making the stock its 11th largest position. TB Alternative Assets Ltd. owned approximately 0.13% of Lyft worth $10,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYFT. Invesco Ltd. boosted its stake in Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after purchasing an additional 778,563 shares in the last quarter. Vanguard Group Inc. boosted its stake in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after purchasing an additional 1,135,036 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Lyft in the 3rd quarter worth approximately $1,224,000. Corient Private Wealth LLC boosted its stake in Lyft by 163.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock worth $1,511,000 after purchasing an additional 62,623 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Lyft by 3.8% during the 3rd quarter. HighTower Advisors LLC now owns 49,804 shares of the ride-sharing company’s stock valued at $524,000 after acquiring an additional 1,801 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity

In related news, Director John Patrick Zimmer sold 3,327 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total value of $52,366.98. Following the transaction, the director now directly owns 921,294 shares of the company’s stock, valued at approximately $14,501,167.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lyft news, Director John Patrick Zimmer sold 3,327 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total transaction of $52,366.98. Following the transaction, the director now directly owns 921,294 shares of the company’s stock, valued at approximately $14,501,167.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the transaction, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,833 shares of company stock worth $590,509. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Down 1.0 %

Lyft stock traded down $0.14 during mid-day trading on Wednesday, reaching $13.33. 8,306,370 shares of the company’s stock were exchanged, compared to its average volume of 15,730,919. The company has a market cap of $5.38 billion, a P/E ratio of -28.36 and a beta of 2.09. Lyft, Inc. has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The company has a fifty day moving average of $15.82 and a 200-day moving average of $15.77.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Sell-side analysts expect that Lyft, Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYFT. BMO Capital Markets lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Friday, June 7th. Vertical Research upgraded shares of Lyft to a “strong-buy” rating in a research note on Friday, June 7th. The Goldman Sachs Group lifted their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Barclays boosted their target price on shares of Lyft from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.04.

About Lyft

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.