Lyft, Inc. $LYFT Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,164,632 shares of the ride-sharing company’s stock after selling 708,600 shares during the period. Renaissance Technologies LLC’s holdings in Lyft were worth $121,890,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LYFT. University of Texas Texas AM Investment Management Co. purchased a new position in Lyft in the 4th quarter valued at about $26,000. Bessemer Group Inc. grew its stake in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Lyft during the fourth quarter worth about $40,000. Huntington National Bank increased its position in shares of Lyft by 171.8% during 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 last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Lyft in the first quarter worth about $43,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $14.20 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 2.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The business has a 50 day simple moving average of $14.46 and a 200-day simple moving average of $14.77.

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

Insider Buying and Selling at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Friday, June 12th. The shares were 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 approximately $9,594,254.61. The trade was a 2.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the transaction, the insider directly owned 853,731 shares of the company’s stock, valued at $12,805,965. This trade represents a 1.33% 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 have sold 45,535 shares of company stock worth $637,456 in the last ninety days. 0.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of analyst reports. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, June 17th. Citigroup initiated coverage on Lyft in a research report on Wednesday, June 17th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. DA Davidson decreased their price target on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Tigress Financial restated a “buy” rating and issued a $28.00 price target on shares of Lyft in a research note on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.40.

About Lyft

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.