Xponance Inc. Boosts Holdings in Lyft, Inc. (NASDAQ:LYFT)

Xponance Inc. lifted its position in Lyft, Inc. (NASDAQ:LYFT) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,045 shares of the ride-sharing company’s stock after acquiring an additional 4,087 shares during the period. Xponance Inc.’s holdings in Lyft were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC boosted its stake in Lyft by 97.9% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 44,455 shares of the ride-sharing company’s stock worth $573,000 after buying an additional 21,992 shares during the last quarter. Harbour Investments Inc. raised its position in Lyft by 259.7% in the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Globeflex Capital L P acquired a new position in Lyft during the fourth quarter worth $128,000. Swiss National Bank boosted its position in shares of Lyft by 2.4% during the fourth quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company’s stock worth $9,680,000 after buying an additional 17,900 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Lyft by 25.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,290,461 shares of the ride-sharing company’s stock valued at $29,547,000 after buying an additional 468,735 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 2.2 %

LYFT stock opened at $12.49 on Wednesday. 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 company has a market cap of $5.22 billion, a price-to-earnings ratio of 208.17, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.37. The company has a fifty day moving average price of $13.02 and a 200 day moving average price of $13.82.

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

Lyft announced that its board has approved a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYFT. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Roth Capital reissued a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. BMO Capital Markets reduced their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Finally, Bank of America lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Twenty-six equities 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. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average price target of $17.03.

Insider Transactions at Lyft

In related news, 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 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. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,407 shares of company stock valued at $203,778. Corporate insiders own 3.07% of the company’s stock.

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.