Headlands Technologies LLC Takes Position in Lyft, Inc. $LYFT

Headlands Technologies LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,253 shares of the ride-sharing company’s stock, valued at approximately $530,000.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its stake in Lyft by 7.4% in the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after purchasing an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after purchasing an additional 1,320,938 shares during the period. Altshuler Shaham Ltd grew its position in shares of Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after purchasing an additional 2,467,010 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lyft during the fourth quarter worth approximately $109,987,000. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

LYFT stock opened at $17.35 on Thursday. The company’s 50-day moving average price is $16.11 and its two-hundred day moving average price is $14.58. The firm has a market cap of $6.57 billion, a P/E ratio of 2.52, a P/E/G ratio of 1.03 and a beta of 1.83. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, analysts anticipate that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lyft news, CAO Stephen W. Hope sold 5,982 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $103,727.88. Following the completion of the sale, the chief accounting officer directly owned 299,974 shares in the company, valued at $5,201,549.16. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the sale, the director directly owned 119,124 shares in the company, valued at approximately $2,064,418.92. This represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 98,816 shares of company stock valued at $1,615,095 over the last three months. 0.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Lyft in a research report on Wednesday, June 17th. They issued an “outperform” rating for the company. Tigress Financial reissued a “buy” rating and set a $28.00 price target on shares of Lyft in a research report on Wednesday, June 24th. Cantor Fitzgerald raised their price objective on Lyft from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Lyft in a report on Monday, August 10th. Finally, Jefferies Financial Group upped 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. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $19.77.

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.