Vanguard Group Inc. Has $464.43 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Vanguard Group Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.8% in the fourth quarter, Holdings Channel reports. The firm owned 36,002,611 shares of the ride-sharing company’s stock after purchasing an additional 984,907 shares during the period. Vanguard Group Inc. owned 0.09% of Lyft worth $464,434,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Cerity Partners LLC bought a new position in shares of Lyft during the third quarter worth $1,057,000. The Manufacturers Life Insurance Company lifted its holdings in Lyft by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock worth $1,054,000 after acquiring an additional 1,315 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lyft by 10.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,668 shares of the ride-sharing company’s stock valued at $863,000 after acquiring an additional 6,249 shares during the period. Captrust Financial Advisors bought a new stake in shares of Lyft in the third quarter worth about $138,000. Finally, True Wealth Design LLC bought a new position in shares of Lyft during the 3rd quarter valued at about $27,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LYFT. Bank of America increased their target price on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. BMO Capital Markets dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Citigroup reaffirmed an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. DA Davidson cut their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Twenty-seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $17.03.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Up 3.0 %

Lyft stock opened at $12.23 on Wednesday. The company’s 50-day moving average price is $12.88 and its two-hundred day moving average price is $13.84. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.11 billion, a P/E ratio of 203.83, a P/E/G ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.55.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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%. As a group, analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has authorized a share repurchase plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback plans are often an indication 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.