Federated Investors Inc. PA Invests $17.62 Million in LYFT Inc (NASDAQ:LYFT)

Federated Investors Inc. PA acquired a new stake in LYFT Inc (NASDAQ:LYFT) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 225,000 shares of the ride-sharing company’s stock, valued at approximately $17,615,000. Federated Investors Inc. PA owned approximately 0.08% of LYFT at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in shares of LYFT during the 1st quarter worth approximately $196,554,000. Baillie Gifford & Co. acquired a new position in LYFT during the 1st quarter worth approximately $78,291,000. Janus Henderson Group PLC acquired a new position in LYFT during the 1st quarter worth approximately $35,111,000. Wells Fargo & Company MN acquired a new position in LYFT during the 1st quarter worth approximately $29,484,000. Finally, Columbus Circle Investors acquired a new position in LYFT during the 1st quarter worth approximately $20,523,000. 30.67% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on LYFT. DA Davidson initiated coverage on shares of LYFT in a research report on Tuesday, March 19th. They issued a “buy” rating and a $75.00 price target for the company. Piper Jaffray Companies started coverage on shares of LYFT in a research note on Tuesday, April 23rd. They set an “overweight” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of LYFT in a research note on Tuesday, April 23rd. They set an “overweight” rating and a $82.00 target price on the stock. Raymond James started coverage on shares of LYFT in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Wedbush reissued a “hold” rating and set a $67.00 target price on shares of LYFT in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company. LYFT presently has an average rating of “Buy” and a consensus target price of $71.23.

LYFT traded down $3.71 during mid-day trading on Monday, hitting $62.00. 4,107,927 shares of the stock were exchanged, compared to its average volume of 7,612,225. The firm’s fifty day moving average price is $59.24. LYFT Inc has a 1-year low of $47.17 and a 1-year high of $88.60.

LYFT (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($47.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.74) by ($42.39). The company had revenue of $776.03 million during the quarter, compared to analysts’ expectations of $744.09 million. On average, research analysts anticipate that LYFT Inc will post -11.85 earnings per share for the current year.

In related news, Director R. Ann Miura-Ko purchased 1,650 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were bought at an average price of $72.00 per share, for a total transaction of $118,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

LYFT 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.

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Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

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