Zurcher Kantonalbank Zurich Cantonalbank Has $928,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lyft, Inc. (NASDAQ:LYFT) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,914 shares of the ride-sharing company’s stock after acquiring an additional 4,246 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lyft were worth $928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LYFT. True Wealth Design LLC acquired a new position in shares of Lyft in the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new stake in Lyft during the 4th quarter valued at approximately $31,000. Byrne Asset Management LLC bought a new position in Lyft during the 4th quarter worth approximately $35,000. Finally, Plato Investment Management Ltd bought a new position in Lyft during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Transactions at Lyft

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

Analysts Set New Price Targets

Several research firms have issued reports on LYFT. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, January 6th. DA Davidson lowered their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Truist Financial lowered their price target on shares of Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets lowered their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Twenty-six research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.03.

Lyft Price Performance

LYFT opened at $11.75 on Friday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 195.83, a P/E/G ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The firm’s fifty day moving average price is $13.07 and its two-hundred day moving average price is $13.77.

Lyft (NASDAQ:LYFT) last released its 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 return on equity of 8.03% and a net margin of 0.39%. As a group, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.