Voya Investment Management LLC Lowers Position in Lyft, Inc. $LYFT

Voya Investment Management LLC decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,445 shares of the ride-sharing company’s stock after selling 163,979 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of Lyft worth $5,930,000 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 company. AQR Capital Management LLC boosted its holdings in Lyft by 144.9% during the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock worth $378,396,000 after purchasing an additional 14,205,143 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lyft by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after buying an additional 20,354 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Lyft by 75.7% in the 2nd quarter. Marshall Wace LLP now owns 5,464,934 shares of the ride-sharing company’s stock worth $86,127,000 after buying an additional 2,353,769 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Lyft by 415.2% in the second quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company’s stock valued at $58,547,000 after acquiring an additional 2,993,807 shares in the last quarter. Finally, Invenomic Capital Management LP grew its holdings in shares of Lyft by 75.2% in the first quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company’s stock valued at $42,584,000 after acquiring an additional 1,539,388 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on LYFT shares. Sanford C. Bernstein boosted their price objective on Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, November 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Susquehanna increased their price target on shares of Lyft from $14.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Arete upgraded shares of Lyft from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $20.00 in a report on Wednesday, December 3rd. Finally, UBS Group lifted their price objective on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.80.

Lyft Stock Performance

NASDAQ LYFT opened at $19.58 on Thursday. The company’s 50 day moving average is $20.87 and its 200-day moving average is $18.33. The firm has a market cap of $7.82 billion, a P/E ratio of 51.51, a price-to-earnings-growth ratio of 1.95 and a beta of 1.99. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $25.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) 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 business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm earned $0.29 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other news, Director Jill Beggs sold 1,466 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $20.25, for a total value of $29,686.50. Following the completion of the transaction, the director directly owned 34,278 shares in the company, valued at approximately $694,129.50. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Lawee sold 6,578 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total transaction of $148,333.90. Following the completion of the sale, the director owned 104,460 shares in the company, valued at $2,355,573. This represents a 5.92% decrease in their ownership of the stock. 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. 3.07% of the stock is currently owned by insiders.

About Lyft

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.