Lyft, Inc. (NASDAQ:LYFT) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Lyft, Inc. (NASDAQ:LYFT) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,052,879 shares of the ride-sharing company’s stock after acquiring an additional 80,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 4.40% of Lyft worth $230,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Pacer Advisors Inc. acquired a new position in Lyft during the 3rd quarter worth $90,604,000. Primecap Management Co. CA grew its position in shares of Lyft by 3.8% during the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after buying an additional 235,510 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after buying an additional 812,926 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Lyft by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock worth $22,580,000 after buying an additional 167,400 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after acquiring an additional 1,218,620 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Wedbush restated a “neutral” rating and issued a $20.00 price target (up from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Tigress Financial lifted their price target on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. TD Cowen increased their price objective on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, Benchmark restated a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.55.

Insiders Place Their Bets

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,990 shares of company stock worth $317,333. 3.07% of the stock is owned by company insiders.

Lyft Stock Up 1.0 %

LYFT opened at $17.36 on Friday. The business has a 50 day simple moving average of $14.70 and a 200-day simple moving average of $13.61. The stock has a market capitalization of $7.20 billion, a P/E ratio of -108.50, a P/E/G ratio of 4.98 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. On average, equities analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Lyft Company Profile

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.