Van Berkom & Associates Inc. Makes New Investment in Lyft, Inc. $LYFT

Van Berkom & Associates Inc. bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 34,800 shares of the ride-sharing company’s stock, valued at approximately $766,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after buying an additional 2,921 shares during the last quarter. Focus Partners Wealth boosted its position in Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after purchasing an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Lyft during the 2nd quarter valued at approximately $470,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lyft by 32.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock valued at $83,000 after purchasing an additional 1,304 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Lyft by 11.5% during the 2nd quarter. QRG Capital Management Inc. now owns 30,166 shares of the ride-sharing company’s stock valued at $475,000 after buying an additional 3,119 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LYFT shares. TD Cowen reiterated a “buy” rating on shares of Lyft in a research note on Thursday, November 6th. Wall Street Zen lowered Lyft from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Oppenheimer set a $26.00 target price on Lyft and gave the stock an “outperform” rating in a research note on Thursday, November 6th. BMO Capital Markets upped their price target on Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Finally, Zephirin Group raised their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 6th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.76.

Lyft Stock Performance

Lyft stock opened at $16.76 on Wednesday. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $6.69 billion, a P/E ratio of 44.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.93. The firm’s fifty day moving average price is $19.51 and its 200-day moving average price is $19.02.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.Lyft’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. On average, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lyft news, Director David Lawee sold 6,578 shares of Lyft stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the transaction, the director directly owned 104,460 shares of the company’s stock, valued at approximately $2,355,573. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill Beggs sold 1,466 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $29,686.50. Following the completion of the sale, the director directly owned 34,278 shares of the company’s stock, valued at $694,129.50. This trade represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 187,443 shares of company stock valued at $4,178,618 over the last 90 days. Company insiders own 3.07% of the company’s stock.

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.