Fidelity Management & Research Co recently announced the acquisition of new stake in Lyft Inc (NASDAQ:LYFT). The institutional investor has increased its shareholding in the Technology company by 2.65% to 53.04 million shares with purchase of 1.37 million shares. This fresh investment now brings its stake to 13.80% valued currently at $795.0 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.11 million to 30.96 million shares. And BlackRock Fund Advisors has lifted its position by 6.16% or 0.83 million shares – to 14.23 million shares.
Currently, there are 361.55M common shares owned by the public and among those 332.65M shares have been available to trade.
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Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 15,438,690 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 333,259 shares.
The top 3 mutual fund holders in Lyft Inc are Fidelity Blue Chip Growth Fund, Vanguard Total Stock Market ETF, and Long Term Themes USD. Fidelity Blue Chip Growth Fund owns 21.73 million shares of the company’s stock, all valued at over $325.8 million. Vanguard Total Stock Market ETF bought 0.31 million shares to see its total holdings expand to 10.36 million shares valued at over $155.28 million and representing 2.70% of the shares outstanding. Long Term Themes USD now owns shares totaling to 2.23% of the shares outstanding.
However, the script later moved the day high at 12.81, down -0.86%. The company’s stock has a 5-day price change of -4.89% and 22.70% over the past three months. LYFT shares are trading -15.61% year to date (YTD), with the 12-month market performance down to -11.85% lower. It has a 12-month low price of $7.85 and touched a high of $18.36 over the same period. LYFT has an average intraday trading volume of 15.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.49%, -0.48%, and 15.57% respectively.
Institutional ownership of Lyft Inc (NASDAQ: LYFT) shares accounts for 78.64% of the company’s 361.55M shares outstanding. Mutual fund holders own 39.10%, while other institutional holders and individual stakeholders account for 41.70% and 27.98% respectively.
It has a market capitalization of $4.97B and a beta (3y monthly) value of 1.92. The earnings-per-share (ttm) stands at -$2.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.02% over the week and 4.34% over the month.
Analysts forecast that Lyft Inc (LYFT) will achieve an EPS of $0.08 for the current quarter, $0.08 for the next quarter and $0.56 for 2024. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 130.38%, and -5.04% over the next financial year.
Looking at the support for the LYFT, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on January 11, 2024, with the firm’s price target at $12-$15.
