Lyft Receives ‘Hold’ Rating as Institutional Support Grows
On October 25, 2024, Benchmark initiated coverage of Lyft (LSE:0A2O) with a Hold recommendation.
Increasing Institutional Interest
A total of 738 funds or institutions now hold positions in Lyft, marking an increase of 52 investors (7.58%) from the previous quarter. The average portfolio weight of all funds dedicated to 0A2O stands at 0.18%, reflecting a 15.10% rise. Over the last three months, total institutional shares increased by 6.39%, reaching 350,767K shares.
Fidelity Blue Chip Growth Fund (FBGRX) owns 21,534K shares, equivalent to 5.36% of Lyft. This is a slight decline, as their prior report showed ownership of 21,735K shares, which reflects a decrease of 0.93%. Their portfolio allocation in 0A2O has decreased by 31.57% over the last quarter.
UBS Asset Management Americas holds 17,972K shares, corresponding to 4.47% ownership. Previously, they owned 19,824K shares, marking a decrease of 10.30%. Their portfolio allocation in 0A2O has dropped by 46.69% in the last quarter.
The Vanguard Total Stock Market Index Fund (VTSMX) now holds 10,458K shares, which is 2.60% ownership. This represents a reduction from 10,563K shares in the prior filing, indicating a decrease of 1.00% with a 29.85% cut in their portfolio allocation for 0A2O.
Meanwhile, Qube Research & Technologies has increased its holdings to 10,280K shares, representing 2.56% ownership, a significant rise from their previous 2,754K shares—an increase of 73.21%. Their portfolio allocation in 0A2O has surged by 171.14% this past quarter.
Ameriprise Financial reports holding 8,824K shares for a 2.20% stake, up from 5,686K shares. This represents an increase of 35.56%, with an 11.33% growth in their 0A2O portfolio allocation.
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