Louisiana State Employees Retirement System Takes Position in Lyft, Inc. $LYFT

Louisiana State Employees Retirement System bought a new stake in Lyft, Inc. (NASDAQ:LYFT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 176,600 shares of the ride-sharing company’s stock, valued at approximately $2,349,000.

A number of other hedge funds also recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Lyft during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Lyft during the fourth quarter worth $40,000. Huntington National Bank grew its position in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 1,374 shares during the last quarter. CI Investments Inc. grew its stake in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after purchasing an additional 653 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 2,587 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Up 6.9%

NASDAQ LYFT opened at $15.25 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The business has a 50 day moving average price of $14.03 and a 200-day moving average price of $15.32. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 2.23, a P/E/G ratio of 0.85 and a beta of 1.82.

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

Insider Buying and Selling at Lyft

In related news, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer owned 335,463 shares of the company’s stock, 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, insider Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $354,915.00. Following the transaction, the insider owned 916,022 shares of the company’s stock, valued at $13,740,330. This trade represents a 2.52% 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. Insiders sold a total of 69,196 shares of company stock valued at $992,371 over the last ninety days. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Truist Financial raised their price target on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Citigroup began coverage on shares of Lyft in a research note on Wednesday, June 17th. They issued a “buy” rating on the stock. Tigress Financial reiterated a “buy” rating and set a $28.00 price objective on shares of Lyft in a research report on Wednesday, June 24th. Finally, Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, June 17th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.40.

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.