Dynamic Technology Lab Private Ltd lifted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT – Free Report) by 79.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,963 shares of the ride-sharing company’s stock after buying an additional 15,509 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Lyft were worth $524,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the period. a16z Perennial Management L.P. purchased a new stake in Lyft in the 4th quarter valued at about $34,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Lyft by 77.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 1,567 shares in the last quarter. EMC Capital Management raised its position in shares of Lyft by 283.4% in the 3rd quarter. EMC Capital Management now owns 5,000 shares of the ride-sharing company’s stock valued at $52,000 after purchasing an additional 3,696 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of Lyft in the 3rd quarter valued at approximately $60,000. Institutional investors own 83.07% of the company’s stock.
Lyft Stock Up 1.4 %
Shares of LYFT opened at $15.64 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. Lyft, Inc. has a 1-year low of $7.91 and a 1-year high of $20.82. The firm has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $15.13.
Wall Street Analyst Weigh In
Several equities analysts recently commented on LYFT shares. Truist Financial raised their target price on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler lifted their target price on shares of Lyft from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Sanford C. Bernstein lifted their price objective on shares of Lyft from $15.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Finally, Moffett Nathanson raised shares of Lyft from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $16.70.
Get Our Latest Stock Analysis on LYFT
Insider Transactions at Lyft
In other news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the transaction, the director now directly owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the sale, the chief accounting officer now owns 255,817 shares in the company, valued at $4,108,421.02. The disclosure for this sale can be found here. In the last three months, insiders sold 267,055 shares of company stock valued at $5,128,587. Company insiders own 3.16% of the company’s stock.
About Lyft
(Free Report)
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.
Further Reading
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