Semanteon Capital Management LP Takes Position in Lyft, Inc. (NASDAQ:LYFT)

Semanteon Capital Management LP purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,980 shares of the ride-sharing company’s stock, valued at approximately $180,000.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Lyft during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in Lyft during the 4th quarter worth $31,000. Byrne Asset Management LLC purchased a new stake in Lyft during the 4th quarter worth $35,000. Finally, Plato Investment Management Ltd purchased a new stake in Lyft during the 4th quarter worth $35,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

NASDAQ LYFT opened at $11.98 on Friday. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.40. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 199.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The company has a 50-day moving average price of $13.05 and a two-hundred day moving average price of $13.79.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has initiated a stock repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

LYFT has been the subject of a number of research reports. DA Davidson decreased their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Loop Capital decreased their price objective on shares of Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Evercore ISI decreased their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. Wedbush decreased their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, UBS Group decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.03.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,407 shares of company stock worth $203,778. 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.