On August 20, 2023, Capula Management Ltd announced a significant reduction in its position in Lyft, Inc. (NASDAQ:LYFT). According to the company’s recent filing with the Securities & Exchange Commission (SEC), Capula Management Ltd sold 40,974 shares of Lyft during the first quarter of the year, resulting in a reduced position by 58.2%. At the end of the reporting period, Capula Management Ltd’s holdings in Lyft were valued at $272,000.
Lyft, Inc. is an American-based ride-sharing company that operates a peer-to-peer marketplace for on-demand transportation services in the United States and Canada. The company provides various mobility options through its multimodal transportation networks to offer riders personalized and efficient access to transportation solutions. These include Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that offers vehicles for long-distance trips; and a network of shared bikes and scooters in several cities to cater to the needs of riders for short-distance journeys.
In other news related to Lyft, Director Logan Green recently sold 21,013 shares of the company’s stock on May 22nd. The transaction was completed at an average price of $8.06 per share, resulting in a total transaction value of $169,364.78. Following this sale, Director Logan Green now holds 474,344 shares directly in Lyft with an estimated value of approximately $3,823,212.64. The sale was disclosed through an official filing with the SEC that can be accessed through a provided link.
Additionally, Director Dave Stephenson acquired 8,826 shares of Lyft stock on August 11th at an average cost of $11.33 per share. This transaction amounted to a total value of $99,998.58. With this latest purchase, Director Dave Stephenson now directly owns 39,941 shares of Lyft’s stock valued at approximately $452,531.53. The acquisition was disclosed in a document filed with the SEC, accessible through a provided link.
It is also worth noting that Director Logan Green completed another sale of 21,013 shares of Lyft stock on May 22nd for an average price of $8.06 per share, totaling $169,364.78. Following this transaction, Director Logan Green’s direct holdings in the company amount to 474,344 shares valued at $3,823,212.64. Details about this sale can be found in the disclosed filing with the SEC.
According to the disclosure, corporate insiders currently own around 3.16% of Lyft’s stock.
This recent news highlights notable activities within Lyft and showcases the actions taken by Capula Management Ltd and its directors regarding their positions in the ride-sharing company. Investors and market analysts may find these developments noteworthy as they monitor trends and potential shifts in Lyft’s ownership structure.
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Fluctuating Ownership and Mixed Analyst Ratings: Assessing Lyft’s Future Prospects
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”LYFT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Lyft, Inc., the popular peer-to-peer ridesharing company, has seen some notable changes in its stock ownership recently. Several hedge funds have either increased or reduced their stakes in the company, indicating a certain level of uncertainty and variation in investor sentiment.
LPL Financial LLC, for instance, raised its holdings in Lyft by 16.9% during the first quarter of this year. It now owns 99,657 shares of Lyft’s stock worth approximately $924,000. S.A. Mason LLC also purchased a new position in Lyft during the same quarter, acquiring shares valued at around $46,000.
Pictet Asset Management SA saw a 15% increase in its stake in Lyft during the first quarter as well. The investment management firm now owns 38,321 shares of the ride-sharing company’s stock valued at $355,000.
Connor Clark & Lunn Investment Management Ltd. took a different approach by making a substantial investment in Lyft during the first quarter. The firm purchased shares worth an impressive $8,652,000.
Jupiter Asset Management Ltd., on the other hand, increased its stake in Lyft by 17.8%, owning 177,184 shares valued at $1,639,000.
In total, hedge funds and institutional investors currently own approximately 73.56% of Lyft’s stock.
As for its recent trading performance on NASDAQ LYFT market opening on Friday, August 20th, it started off with an opening price of $11.13 per share. Over the past 50 days leading up to this date, the firm’s average closing price stood at $10.98 with a moving average price of $10.48 over the past 200 days.
Lyft has experienced significant volatility within its stock value over the course of one year; it hit a low of $7.85 and reached a high of $18.58 per share.
Lyft, Inc. operates within the United States and Canada as a peer-to-peer marketplace for on-demand ridesharing. It offers riders personalized and on-demand access to various mobility options through its multimodal transportation networks. These networks include the Ridesharing Marketplace, which connects drivers with riders, Express Drive – a flexible car rentals program for drivers, Lyft Rentals that provides vehicles for long-distance trips, and a network of shared bikes and scooters in different cities to cater to short trip needs.
Analysts from various brokerage firms have weighed in on Lyft’s stock performance and provided target prices. For instance, Bank of America lowered their target price from $10.00 to $8.50 in a research note released on May 5th. Wedbush initiated coverage on Lyft with a “neutral” rating and a $10.00 target price on June 6th.
Truist Financial increased their target price from $10.00 to $12.00 in a research note published on August 9th, while Royal Bank of Canada also raised their target price from $9.00 to $12.00 and assigned the company’s stock a “sector perform” rating.
However, Tigress Financial took a more pessimistic view by reducing their price objective on Lyft shares from $60.00 to $22.00 and giving it a “buy” rating.
Overall, according to Bloomberg.com, analysts have issued mixed recommendations for Lyft’s stock; one analyst has rated it as sell, twenty-seven suggest holding the stock, and five recommend buying it. The consensus rating for Lyft stands at “Hold,” with an average target price of $13.78.
In conclusion, Lyft’s recent developments in terms of hedge fund investments and institutional ownership indicate fluctuating sentiments among investors towards the ridesharing company’s future prospects. As market conditions continue to evolve, it will be interesting to see how Lyft adapts and navigates the challenges it faces in the coming months.
