Rockefeller Capital Management L.P. Sells 487,740 Shares of Lyft, Inc. $LYFT

Rockefeller Capital Management L.P. lessened its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 85.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,341 shares of the ride-sharing company’s stock after selling 487,740 shares during the period. Rockefeller Capital Management L.P.’s holdings in Lyft were worth $1,614,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LYFT. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Lyft in the fourth quarter worth $26,000. International Assets Investment Management LLC acquired a new position in Lyft in the 4th quarter valued at $40,000. Huntington National Bank grew its stake in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the last quarter. CI Investments Inc. raised its holdings in Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 653 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Lyft by 410.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 2,587 shares during the period. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LYFT shares. Truist Financial boosted their target price on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Guggenheim reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, June 17th. Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Oppenheimer initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.40.

Lyft Stock Performance

NASDAQ:LYFT opened at $14.61 on Wednesday. The firm’s 50-day moving average is $14.02 and its 200-day moving average is $15.28. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 2.13, a PEG ratio of 0.91 and a beta of 1.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted $0.01 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer owned 335,463 shares in the company, valued at approximately $4,615,970.88. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. The trade was a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 69,196 shares of company stock worth $992,371. Insiders own 0.92% of the company’s stock.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.