Institutional Insights: Hedge Funds' Moves on Lyft Shares

2024-03-12

During the meeting, data from sharkstracker.com was presented, revealing that as of the quarter ending on December 31, 2023, there were 385 hedge funds holding Lyft shares. These funds collectively held a total of 342,970,128 shares. In contrast, there were 19 ETFs that held Lyft shares, with a total of 6,497,880 shares in their possession. Among the top institutional holders of Lyft shares were FMR LLC, Vanguard Group Inc, UBS Asset Management Americas Inc, BlackRock Inc., and Maple Rock Capital Partners Inc.

In the previous quarter, 150 hedge funds were actively buying Lyft shares, while 147 were selling them off. The selling hedge funds divested 41,081,738 shares, whereas the buying funds acquired 39,670,785 shares. Furthermore, 42 hedge funds doubled down on their positions in Lyft, while 7 funds decided to sell at least 90% of their Lyft shares.

The meeting also shed light on the sentiments of various institutions towards Lyft. The most pessimistic entities included Invenomic Capital Management LP, UBS Asset Management Americas Inc, Citadel Advisors LLC, Millennium Management LLC, and Citadel Advisors LLC. Conversely, the most optimistic institutions regarding Lyft were Maple Rock Capital Partners Inc, Renaissance Technologies LLC, Susquehanna International Group, LLP, D. E. Shaw & Co., Inc., and Morgan Stanley.

The data shared during the meeting, sourced from sharkstracker.com, provided a comprehensive and data-driven perspective on the market dynamics surrounding Lyft. It offered valuable insights into the activities of hedge funds and ETFs in relation to Lyft shares, giving attendees a deeper understanding of the investment landscape.