D. E. Shaw & Co. Inc. Sells 531,310 Shares of LYFT Inc (NASDAQ:LYFT)

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D. E. Shaw & Co. Inc. cut its stake in shares of LYFT Inc (NASDAQ:LYFT) by 23.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,714,541 shares of the ride-sharing company’s stock after selling 531,310 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in LYFT were worth $101,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. FMR LLC bought a new stake in LYFT during the 1st quarter worth approximately $1,451,179,000. AH Equity Partners III Parallel L.L.C. bought a new stake in LYFT during the 1st quarter worth approximately $704,682,000. AH Equity Partners III L.L.C. bought a new stake in LYFT during the 1st quarter worth approximately $472,872,000. Vanguard Group Inc. grew its holdings in LYFT by 2,285.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,329,568 shares of the ride-sharing company’s stock worth $218,786,000 after acquiring an additional 3,190,012 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in LYFT during the 1st quarter worth approximately $178,861,000. 34.55% of the stock is currently owned by institutional investors.

Shares of NASDAQ:LYFT traded down $0.85 during trading on Friday, reaching $46.43. The stock had a trading volume of 6,511,496 shares, compared to its average volume of 7,222,966. The business’s fifty day moving average is $51.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.73 and a current ratio of 1.73. LYFT Inc has a 52 week low of $43.41 and a 52 week high of $88.60.

LYFT (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported ($0.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.66) by $0.98. The firm had revenue of $867.30 million during the quarter, compared to the consensus estimate of $809.64 million. The firm’s quarterly revenue was up 71.8% on a year-over-year basis. As a group, sell-side analysts anticipate that LYFT Inc will post -11.38 earnings per share for the current year.

In related news, General Counsel Kristin Sverchek sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $47.97, for a total transaction of $287,820.00. Following the transaction, the general counsel now owns 206,969 shares in the company, valued at approximately $9,928,302.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ran I. Makavy sold 70,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $52.11, for a total transaction of $3,647,700.00. The disclosure for this sale can be found here.

A number of equities research analysts have weighed in on LYFT shares. Piper Jaffray Companies boosted their target price on shares of LYFT from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays boosted their target price on shares of LYFT from $55.00 to $63.00 and gave the stock a “positive” rating in a report on Thursday, August 8th. Evercore ISI started coverage on shares of LYFT in a report on Wednesday, June 12th. They set an “outperform” rating and a $74.00 target price on the stock. Wolfe Research started coverage on shares of LYFT in a report on Tuesday, June 4th. They set an “underperform” rating on the stock. Finally, KeyCorp reissued a “hold” rating on shares of LYFT in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.35.

About LYFT

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

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