Teacher Retirement System of Texas Sells 20,908 Shares of Lyft, Inc. $LYFT

Teacher Retirement System of Texas decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,955 shares of the ride-sharing company’s stock after selling 20,908 shares during the period. Teacher Retirement System of Texas’ holdings in Lyft were worth $2,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after purchasing an additional 2,046,639 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after buying an additional 5,178,118 shares during the period. Rakuten Group Inc. acquired a new position in Lyft during the 1st quarter worth approximately $130,434,000. AQR Capital Management LLC raised its stake in Lyft by 103.3% during the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Finally, Invenomic Capital Management LP raised its stake in Lyft by 75.2% during the 1st quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company’s stock worth $42,584,000 after buying an additional 1,539,388 shares during the period. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of research reports. Wedbush set a $17.00 price target on Lyft and gave the stock a “neutral” rating in a research note on Wednesday. Oppenheimer upped their price target on Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Benchmark reaffirmed a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft upped their price target on Lyft from $16.00 to $21.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. Finally, Cowen reaffirmed a “buy” rating on shares of Lyft in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.68.

Lyft Stock Performance

Shares of Lyft stock opened at $20.46 on Monday. The company has a market cap of $8.32 billion, a PE ratio of 85.25, a price-to-earnings-growth ratio of 3.58 and a beta of 2.36. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $23.50. The business has a 50 day moving average price of $19.86 and a 200-day moving average price of $16.56. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Equities analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John David Risher purchased 5,926 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. The trade was a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 74,427 shares of company stock worth $1,252,686. 3.07% of the stock is owned by insiders.

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.