Quantitative Systematic Strategies LLC Purchases New Shares in LYFT Inc (NASDAQ:LYFT)

Quantitative Systematic Strategies LLC purchased a new stake in LYFT Inc (NASDAQ:LYFT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,239 shares of the ride-sharing company’s stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc. acquired a new position in LYFT in the 1st quarter valued at $27,000. Hartford Financial Management Inc. acquired a new position in LYFT in the 1st quarter valued at $39,000. Amundi Pioneer Asset Management Inc. acquired a new position in LYFT in the 1st quarter valued at $39,000. Flagship Harbor Advisors LLC acquired a new position in LYFT in the 2nd quarter valued at $37,000. Finally, RPG Investment Advisory LLC raised its holdings in shares of LYFT by 500.0% during the 2nd quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock worth $38,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 30.70% of the company’s stock.

A number of research firms have recently commented on LYFT. UBS Group began coverage on LYFT in a report on Tuesday, April 23rd. They set a “buy” rating and a $82.00 price target for the company. Raymond James began coverage on LYFT in a report on Tuesday, April 23rd. They set an “outperform” rating and a $85.00 price target for the company. Macquarie began coverage on LYFT in a report on Tuesday, June 4th. They set an “outperform” rating for the company. HSBC began coverage on LYFT in a report on Thursday, April 11th. They set a “hold” rating and a $60.00 price target for the company. Finally, Piper Jaffray Companies began coverage on LYFT in a report on Tuesday, April 23rd. They set an “overweight” rating and a $78.00 price target for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.44.

Shares of NASDAQ LYFT traded up $2.27 during trading on Wednesday, reaching $60.97. The company had a trading volume of 83,163 shares, compared to its average volume of 2,306,130. The company has a fifty day simple moving average of $63.14. LYFT Inc has a 12 month low of $47.17 and a 12 month high of $88.60.

LYFT (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($47.13) EPS for the quarter, missing analysts’ consensus estimates of ($4.74) by ($42.39). The business had revenue of $776.03 million during the quarter, compared to analysts’ expectations of $744.09 million. On average, analysts forecast that LYFT Inc will post -11.87 earnings per share for the current year.

About LYFT

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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