Stevens Capital Management LP Sells 8,493 Shares of LYFT Inc (NASDAQ:LYFT)

Stevens Capital Management LP cut its stake in shares of LYFT Inc (NASDAQ:LYFT) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,891 shares of the ride-sharing company’s stock after selling 8,493 shares during the quarter. Stevens Capital Management LP’s holdings in LYFT were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its position in LYFT by 99.4% during the fourth quarter. State Street Corp now owns 3,249,242 shares of the ride-sharing company’s stock valued at $139,782,000 after purchasing an additional 1,620,112 shares during the last quarter. Investment House LLC bought a new stake in LYFT during the fourth quarter valued at approximately $2,575,000. Samalin Investment Counsel LLC bought a new stake in LYFT during the fourth quarter valued at approximately $146,000. Rhumbline Advisers lifted its position in LYFT by 393.8% during the fourth quarter. Rhumbline Advisers now owns 137,041 shares of the ride-sharing company’s stock valued at $5,896,000 after purchasing an additional 109,291 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in LYFT by 27.1% during the fourth quarter. New York State Common Retirement Fund now owns 78,700 shares of the ride-sharing company’s stock valued at $3,386,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors and hedge funds own 44.44% of the company’s stock.

Shares of NASDAQ:LYFT traded down $2.16 during midday trading on Friday, reaching $44.87. The company’s stock had a trading volume of 16,638,072 shares, compared to its average volume of 7,249,417. The firm has a 50 day moving average of $46.89 and a 200-day moving average of $47.00. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.12. LYFT Inc has a 12-month low of $37.07 and a 12-month high of $88.60.

LYFT (NASDAQ:LYFT) last released its earnings results on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $984.49 million. On average, equities analysts predict that LYFT Inc will post -10.41 EPS for the current fiscal year.

LYFT has been the subject of several research analyst reports. Piper Jaffray Companies dropped their target price on shares of LYFT from $79.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, December 3rd. Morgan Stanley lowered their price objective on shares of LYFT from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday. Wedbush restated a “buy” rating on shares of LYFT in a report on Tuesday, December 31st. Tigress Financial restated a “buy” rating on shares of LYFT in a report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on shares of LYFT from to and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the company. LYFT currently has an average rating of “Buy” and an average price target of $65.55.

In other LYFT news, Director Mary Agnes Wilderotter sold 1,663 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $52.49, for a total transaction of $87,290.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kristin Sverchek sold 9,410 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $44.13, for a total transaction of $415,263.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,072 shares of company stock worth $7,950,163.

LYFT Company Profile

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.

Read More: Cash Flow

Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

Receive News & Ratings for LYFT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LYFT and related companies with MarketBeat.com's FREE daily email newsletter.