Smith Group Asset Management LLC Takes $280,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Smith Group Asset Management LLC purchased a new position in Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 21,700 shares of the ride-sharing company’s stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares during the period. KBC Group NV increased its stake in Lyft by 354.9% in the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after buying an additional 207,672 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted 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 buying an additional 420,274 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Lyft during the 4th quarter valued at about $388,000. Finally, Pallas Capital Advisors LLC boosted its position in Lyft by 42.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 31,181 shares of the ride-sharing company’s stock valued at $402,000 after buying an additional 9,342 shares during the period. 83.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LYFT shares. BMO Capital Markets raised their target price on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Tigress Financial raised their price objective on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley upped their target price on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. TD Cowen raised their price target on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.84.

Lyft Stock Performance

LYFT opened at $13.43 on Thursday. The firm has a 50 day moving average of $14.63 and a two-hundred day moving average of $13.43. The firm has a market capitalization of $5.57 billion, a PE ratio of -83.94, a P/E/G ratio of 1.74 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82.

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

Insider Transactions at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now directly owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 over the last quarter. 3.07% of the stock is currently owned by insiders.

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.