Jupiter Asset Management Ltd. bought a new position in Lyft, Inc. (NASDAQ:LYFT – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,277 shares of the ride-sharing company’s stock, valued at approximately $182,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jericho Capital Asset Management L.P. bought a new stake in shares of Lyft in the 2nd quarter worth approximately $34,942,000. Arizona State Retirement System boosted its position in Lyft by 1.7% during the second quarter. Arizona State Retirement System now owns 93,402 shares of the ride-sharing company’s stock valued at $896,000 after buying an additional 1,521 shares during the period. Alpha DNA Investment Management LLC bought a new position in shares of Lyft during the third quarter valued at about $574,000. Invenomic Capital Management LP increased its holdings in shares of Lyft by 110.5% in the second quarter. Invenomic Capital Management LP now owns 3,632,340 shares of the ride-sharing company’s stock worth $34,834,000 after buying an additional 1,906,477 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Lyft by 15.8% in the 3rd quarter. California Public Employees Retirement System now owns 504,807 shares of the ride-sharing company’s stock valued at $5,321,000 after acquiring an additional 68,934 shares during the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.
Lyft Trading Up 2.0 %
Shares of NASDAQ LYFT opened at $13.03 on Monday. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $15.94. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average of $13.57 and a 200 day moving average of $11.77. The stock has a market cap of $5.12 billion, a P/E ratio of -5.30 and a beta of 1.90.
Insider Buying and Selling at Lyft
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on LYFT shares. BMO Capital Markets began coverage on Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Lyft from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Nomura cut shares of Lyft from a “neutral” rating to a “reduce” rating and increased their price target for the company from $11.70 to $13.00 in a research report on Friday, December 29th. Wedbush boosted their price objective on shares of Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, December 27th. Finally, Truist Financial upped their price objective on shares of Lyft from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.55.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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