Lyft, Inc. $LYFT Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 62.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,189,313 shares of the ride-sharing company’s stock after buying an additional 1,223,536 shares during the quarter. Pacer Advisors Inc.’s holdings in Lyft were worth $42,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Lyft during the 4th quarter worth approximately $26,000. Boreal Capital Management LLC acquired a new position in Lyft in the first quarter valued at approximately $31,000. Bessemer Group Inc. grew its position in Lyft by 1,851.9% in the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares during the period. International Assets Investment Management LLC purchased a new position in Lyft in the fourth quarter worth approximately $40,000. Finally, Huntington National Bank grew its position in Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 1,374 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on LYFT shares. Jefferies Financial Group lifted their target price on Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein initiated coverage on Lyft in a report on Wednesday, June 17th. They set an “underperform” rating for the company. JPMorgan Chase & Co. raised their price objective on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley upped their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.43.

Insider Transactions at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the transaction, the chief financial officer directly owned 705,979 shares of the company’s stock, valued at $9,594,254.61. The trade was a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $75,129.60. Following the sale, the chief accounting officer owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock worth $637,456 in the last 90 days. Insiders own 0.92% of the company’s stock.

Lyft Stock Up 3.3%

Shares of NASDAQ LYFT opened at $16.38 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $14.71 and its two-hundred day moving average is $14.57. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 2.39, a PEG ratio of 0.94 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Research analysts predict that Lyft, Inc. will post 0.69 EPS for the current year.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.