Maverick Capital Ltd. Has $2.18 Million Holdings in Lyft, Inc. (NASDAQ:LYFT)

Maverick Capital Ltd. grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 251.0% in the 3rd quarter, Holdings Channel reports. The fund owned 170,735 shares of the ride-sharing company’s stock after buying an additional 122,096 shares during the period. Maverick Capital Ltd.’s holdings in Lyft were worth $2,177,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its holdings in shares of Lyft by 4.4% during the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after acquiring an additional 1,160 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Lyft by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after acquiring an additional 1,315 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Lyft by 6.1% in the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after acquiring an additional 1,437 shares during the last quarter. Finally, CWM LLC boosted its holdings in Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after acquiring an additional 1,457 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,990 shares of company stock worth $317,333. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Up 1.0 %

LYFT stock opened at $17.36 on Friday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The business’s 50-day moving average is $14.70 and its two-hundred day moving average is $13.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -108.50, a P/E/G ratio of 4.98 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned ($0.02) earnings per share. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on LYFT. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $17.00) on shares of Lyft in a report on Thursday, November 7th. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price target on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley raised their target price on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research report 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.55.

About Lyft

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.