Legal & General Group Plc Has $8.25 Million Holdings in Lyft, Inc. $LYFT

Legal & General Group Plc lessened its stake in Lyft, Inc. (NASDAQ:LYFT) by 25.9% during the fourth quarter, Holdings Channel reports. The firm owned 425,872 shares of the ride-sharing company’s stock after selling 149,089 shares during the period. Legal & General Group Plc’s holdings in Lyft were worth $8,249,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LYFT. Swedbank AB bought a new position in shares of Lyft in the fourth quarter valued at approximately $108,472,000. Victory Capital Management Inc. raised its stake in shares of Lyft by 479.1% in the third quarter. Victory Capital Management Inc. now owns 3,580,564 shares of the ride-sharing company’s stock valued at $78,808,000 after buying an additional 2,962,266 shares during the period. AQR Capital Management LLC raised its stake in shares of Lyft by 7.4% in the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after buying an additional 1,773,438 shares during the period. Invesco Ltd. raised its stake in shares of Lyft by 134.0% in the third quarter. Invesco Ltd. now owns 2,491,790 shares of the ride-sharing company’s stock valued at $54,844,000 after buying an additional 1,426,860 shares during the period. Finally, ING Groep NV raised its stake in shares of Lyft by 699.7% during the 3rd quarter. ING Groep NV now owns 1,626,500 shares of the ride-sharing company’s stock valued at $35,799,000 after purchasing an additional 1,423,100 shares during the period. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the transaction, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Lyft stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 54,196 shares of company stock valued at $788,521. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of a number of analyst reports. Barclays decreased their price objective on Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Lyft in a research report on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating on shares of Lyft in a research report on Wednesday, February 11th. Truist Financial increased their target price on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, Canaccord Genuity Group lowered their price target on Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus target price of $18.83.

Lyft Stock Down 3.3%

LYFT stock opened at $13.65 on Friday. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. 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 firm has a market cap of $5.18 billion, a PE ratio of 1.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.82. The business has a 50 day moving average of $13.83 and a 200 day moving average of $16.15.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business earned $0.01 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. On average, research analysts forecast that Lyft, Inc. will post 0.66 EPS for the current fiscal year.

Lyft declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 10th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the ride-sharing company to purchase up to 15.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Lyft 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.