Dean Capital Investments Management LLC purchased a new position in LYFT Inc (NASDAQ:LYFT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,234 shares of the ride-sharing company’s stock, valued at approximately $566,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. purchased a new position in shares of LYFT in the 1st quarter worth $27,000. Parkside Financial Bank & Trust purchased a new position in shares of LYFT in the 1st quarter worth $48,000. Gables Capital Management Inc. purchased a new position in shares of LYFT in the 1st quarter worth $145,000. Daiwa Securities Group Inc. purchased a new position in shares of LYFT in the 1st quarter worth $219,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of LYFT in the 1st quarter worth $247,000. Hedge funds and other institutional investors own 0.34% of the company’s stock.
In other news, Director R. Ann Miura-Ko bought 1,650 shares of LYFT stock in a transaction dated Tuesday, April 2nd. The shares were purchased at an average cost of $72.00 per share, with a total value of $118,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of equities analysts have recently issued reports on the company. JMP Securities assumed coverage on LYFT in a research note on Tuesday, April 23rd. They issued an “outperform” rating and a $78.00 price target on the stock. Consumer Edge assumed coverage on LYFT in a research note on Monday, April 1st. They issued a “neutral” rating and a $73.00 price target on the stock. Wedbush assumed coverage on LYFT in a research note on Wednesday, March 27th. They issued a “neutral” rating on the stock. DA Davidson assumed coverage on LYFT in a research note on Tuesday, March 19th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, HSBC assumed coverage on LYFT in a research note on Thursday, April 11th. They issued a “hold” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $73.49.
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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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