Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) by 17.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 536,350 shares of the ride-sharing company’s stock after acquiring an additional 79,298 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.14% of Lyft worth $4,972,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in Lyft by 4.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 13,303 shares of the ride-sharing company’s stock worth $510,000 after buying an additional 530 shares during the period. Summit Financial LLC raised its stake in Lyft by 3.3% during the 4th quarter. Summit Financial LLC now owns 17,615 shares of the ride-sharing company’s stock worth $194,000 after buying an additional 567 shares during the period. Ellevest Inc. raised its stake in Lyft by 32.1% during the 4th quarter. Ellevest Inc. now owns 2,616 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 636 shares during the period. Prudential Financial Inc. raised its stake in Lyft by 12.9% during the 1st quarter. Prudential Financial Inc. now owns 8,005 shares of the ride-sharing company’s stock worth $308,000 after buying an additional 914 shares during the period. Finally, Ieq Capital LLC raised its stake in Lyft by 0.3% during the 4th quarter. Ieq Capital LLC now owns 286,861 shares of the ride-sharing company’s stock worth $3,161,000 after buying an additional 947 shares during the period. Institutional investors own 73.56% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Credit Suisse Group lowered their target price on Lyft from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday. Tigress Financial lowered their target price on Lyft from $60.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 20th. Wedbush assumed coverage on Lyft in a report on Tuesday, June 6th. They set a “neutral” rating and a $10.00 target price for the company. Truist Financial increased their target price on Lyft from $10.00 to $12.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Lyft from $12.00 to $11.00 in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.15.
Insider Activity at Lyft
In related news, Director Logan Green sold 21,013 shares of Lyft stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $8.06, for a total value of $169,364.78. Following the transaction, the director now directly owns 474,344 shares of the company’s stock, valued at $3,823,212.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.16% of the stock is currently owned by insiders.
Lyft Stock Performance
Shares of NASDAQ:LYFT opened at $11.38 on Friday. The company’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $10.69. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -3.15 and a beta of 1.78. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.81 and a quick ratio of 0.81. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $19.85.
About Lyft
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.
Read More
- Five stocks we like better than Lyft
- Best Restaurant Stocks to Invest in Now
- Investing in Coffee: 3 Great Strategies to Consider
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- 5 Best Stocks to Buy in a Bear Market
- Technology Stocks Explained: Here’s What to Know About Tech
- 3 Pharmaceutical Stocks to Buy and Hold for the Long Haul
Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFT – Free Report).
Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.
