Police & Firemen s Retirement System of New Jersey Acquires 16,703 Shares of Lyft, Inc. $LYFT

Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,229 shares of the ride-sharing company’s stock after buying an additional 16,703 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Lyft were worth $2,399,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Lyft by 162.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Lyft during the 2nd quarter worth approximately $32,000. Bogart Wealth LLC lifted its holdings in shares of Lyft by 1,242.2% in the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Lyft in the first quarter valued at approximately $35,000. Finally, SRH Advisors LLC purchased a new position in shares of Lyft during the second quarter valued at approximately $62,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Performance

NASDAQ LYFT opened at $21.70 on Wednesday. The company has a market capitalization of $8.67 billion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 2.15 and a beta of 2.36. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The company has a 50-day simple moving average of $21.15 and a 200 day simple moving average of $17.44.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on LYFT shares. Barclays increased their price target on Lyft from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Oppenheimer set a $26.00 target price on shares of Lyft and gave the company an “outperform” rating in a report on Thursday, November 6th. Guggenheim boosted their price target on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. Zephirin Group upped their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 6th. Finally, Roth Capital set a $25.00 target price on shares of Lyft and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Eleven research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $22.85.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher bought 5,926 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 59,427 shares of company stock valued at $1,024,086. Company insiders own 3.07% of the company’s stock.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.