XTX Topco Ltd Acquires 1,043 Shares of Lyft, Inc. (NASDAQ:LYFT)

XTX Topco Ltd boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,203 shares of the ride-sharing company’s stock after acquiring an additional 1,043 shares during the quarter. XTX Topco Ltd’s holdings in Lyft were worth $538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of Lyft during the third quarter worth approximately $27,000. International Assets Investment Management LLC bought a new position in Lyft in the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in Lyft during the 2nd quarter worth $35,000. Capital Performance Advisors LLP bought a new position in Lyft in the 3rd quarter valued at $38,000. Finally, Quarry LP increased its stake in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Tigress Financial upped their target price on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Cantor Fitzgerald increased their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.77.

Lyft Stock Performance

Shares of LYFT stock opened at $14.14 on Friday. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company’s fifty day simple moving average is $15.32 and its 200-day simple moving average is $13.59. The firm has a market cap of $5.87 billion, a PE ratio of -88.38, a P/E/G ratio of 4.47 and a beta of 2.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last issued its quarterly 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 firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. Equities research analysts expect that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 10,919 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,666 shares of company stock valued at $454,770. Insiders own 3.07% of the company’s stock.

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.