Jupiter Asset Management Ltd. Acquires New Position in Lyft, Inc. (NASDAQ:LYFT)

Jupiter Asset Management Ltd. bought a new position in Lyft, Inc. (NASDAQ:LYFTFree 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

In other Lyft news, Director John Patrick Zimmer sold 18,255 shares of Lyft stock in a transaction on Monday, November 20th. The stock was sold at an average price of $10.33, for a total transaction of $188,574.15. Following the completion of the transaction, the director now owns 1,416,322 shares in the company, valued at $14,630,606.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Erin Brewer sold 22,354 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.70, for a total transaction of $283,895.80. Following the sale, the chief financial officer now owns 1,906,812 shares in the company, valued at $24,216,512.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 18,255 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $10.33, for a total transaction of $188,574.15. Following the sale, the director now directly owns 1,416,322 shares of the company’s stock, valued at approximately $14,630,606.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,972 shares of company stock valued at $4,128,245. Corporate insiders own 3.16% of the company’s stock.

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.

Get Our Latest Stock Report on LYFT

About Lyft

(Free Report)

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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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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