Strs Ohio Sells 52,548 Shares of Lyft, Inc. $LYFT

Strs Ohio decreased its holdings in Lyft, Inc. (NASDAQ:LYFT) by 84.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,517 shares of the ride-sharing company’s stock after selling 52,548 shares during the quarter. Strs Ohio’s holdings in Lyft were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Lyft by 144.9% in the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock valued at $378,396,000 after purchasing an additional 14,205,143 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Lyft by 415.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company’s stock worth $58,547,000 after buying an additional 2,993,807 shares in the last quarter. Norges Bank purchased a new stake in Lyft in the 2nd quarter valued at $44,209,000. Marshall Wace LLP lifted its stake in Lyft by 75.7% during the 2nd quarter. Marshall Wace LLP now owns 5,464,934 shares of the ride-sharing company’s stock valued at $86,127,000 after acquiring an additional 2,353,769 shares in the last quarter. Finally, Rheos Capital Works Inc. purchased a new position in Lyft during the 2nd quarter worth $37,036,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $17.26 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $19.00. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $25.54. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 1.05 and a beta of 1.93.

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

Insider Buying and Selling at Lyft

In other Lyft news, CEO John David Risher acquired 5,030 shares of Lyft stock in a transaction that occurred on Wednesday, December 10th. The stock was acquired at an average cost of $19.80 per share, for a total transaction of $99,594.00. Following the purchase, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lawee sold 6,578 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the sale, the director directly owned 104,460 shares in the company, valued at $2,355,573. The trade was a 5.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 187,443 shares of company stock valued at $4,178,618. Insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their target price on shares of Lyft from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research note on Thursday, January 22nd. Morgan Stanley increased their price target on Lyft from $20.50 to $22.50 and gave the company an “equal weight” rating in a research report on Monday, December 8th. Arete Research set a $20.00 price objective on Lyft and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets upped their price objective on Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $22.76.

Lyft 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.