Lyft, Inc. $LYFT Stake Lessened by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 85.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its stake in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 639 shares in the last quarter. CI Investments Inc. grew its stake in Lyft by 39.1% during the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after acquiring an additional 653 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Lyft by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after purchasing an additional 681 shares during the period. Allegiance Financial Group Advisory Services LLC increased its holdings in shares of Lyft by 4.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Lyft by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after purchasing an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They set an “outperform” rating for the company. BTIG Research upgraded shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Guggenheim reiterated a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Mizuho decreased their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Finally, Sanford C. Bernstein started coverage on shares of Lyft in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.40.

Insider Buying and Selling at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. The trade was a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 69,196 shares of company stock worth $992,371. Company insiders own 0.92% of the company’s stock.

Lyft Trading Down 4.2%

Shares of NASDAQ LYFT opened at $14.61 on Wednesday. The business has a 50 day simple moving average of $14.02 and a 200 day simple moving average of $15.28. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The stock 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 (NASDAQ:LYFT) last issued its quarterly earnings data 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). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. Lyft’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS. On average, research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

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.