Oppenheimer Asset Management Inc. Acquires New Stake in LYFT Inc (LYFT)

Oppenheimer Asset Management Inc. acquired a new stake in shares of LYFT Inc (NASDAQ:LYFT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,282 shares of the ridesharing company’s stock, valued at approximately $414,000.

Other large investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of LYFT during the 1st quarter valued at $385,000. FNY Investment Advisers LLC acquired a new stake in shares of LYFT during the 1st quarter valued at $700,000. Calamos Advisors LLC acquired a new stake in shares of LYFT during the 1st quarter valued at $1,174,000. Finally, Columbus Circle Investors acquired a new stake in shares of LYFT during the 1st quarter valued at $20,523,000. Institutional investors own 0.34% of the company’s stock.

In related news, Director R. Ann Miura-Ko purchased 1,650 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $72.00 per share, with a total value of $118,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ LYFT opened at $59.34 on Wednesday. LYFT Inc has a 1-year low of $54.32 and a 1-year high of $88.60.

LYFT has been the topic of several recent analyst reports. DA Davidson initiated coverage on shares of LYFT in a research note on Tuesday, March 19th. They set a “buy” rating and a $75.00 target price on the stock. Northcoast Research initiated coverage on shares of LYFT in a research note on Wednesday, March 27th. They set a “neutral” rating on the stock. Wedbush initiated coverage on shares of LYFT in a research note on Wednesday, March 27th. They set a “neutral” rating on the stock. Consumer Edge initiated coverage on shares of LYFT in a research note on Monday, April 1st. They set a “neutral” rating and a $73.00 target price on the stock. Finally, Guggenheim initiated coverage on shares of LYFT in a research note on Monday, April 1st. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $73.19.

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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.

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Institutional Ownership by Quarter for LYFT (NASDAQ:LYFT)

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