Strs Ohio Decreases Stock Holdings in Lyft, Inc. $LYFT

Strs Ohio lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 97.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,191 shares of the ride-sharing company’s stock after selling 431,214 shares during the period. Strs Ohio’s holdings in Lyft were worth $122,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LYFT. University of Texas Texas AM Investment Management Co. purchased a new stake in Lyft during the 4th quarter worth about $26,000. International Assets Investment Management LLC purchased a new position in Lyft in the fourth quarter valued at approximately $40,000. Huntington National Bank raised its holdings in Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 1,374 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Lyft by 763.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,073 shares of the ride-sharing company’s stock worth $59,000 after buying an additional 2,717 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Lyft by 410.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 2,587 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, Director Jill Beggs sold 2,093 shares of the stock in a transaction dated Wednesday, May 27th. The stock was 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 $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. This represents a 2.08% 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. Over the last quarter, insiders have sold 69,196 shares of company stock valued at $992,371. Insiders own 0.92% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $15.61 on Monday. The stock has a 50 day simple moving average of $14.18 and a 200-day simple moving average of $15.03. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 2.28, a price-to-earnings-growth ratio of 0.93 and a beta of 1.80. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

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

Analyst Ratings Changes

LYFT has been the subject of several research analyst reports. Guggenheim restated a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Morgan Stanley raised shares of Lyft from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada decreased their price objective on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. DA Davidson dropped their price objective on Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a report on Monday, May 18th. Finally, Oppenheimer started coverage on Lyft in a research report on Wednesday, June 17th. They set an “outperform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average target price of $19.40.

Lyft News Summary

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft announced it is giving free rides to New Yorkers traveling to job interviews and work, a move that could boost brand visibility and underscore its role in improving access to employment. Lyft is giving free rides to New Yorkers heading to job interviews and work
• Positive Sentiment: Lyft named Senthil Padmanabhan as CTO, which could support product development and technology execution at a time when the company is focused on mobility and automation initiatives. Senthil Padmanabhan Named CTO At Lyft
• Positive Sentiment: Lyft also said it will acquire Serveo’s Spanish bikeshare operations unit, signaling continued expansion in micromobility and international opportunities that could broaden revenue streams. Lyft to acquire Serveo’s Spanish bikeshare operations unit
• Neutral Sentiment: A Seeking Alpha opinion piece argued that Lyft could have further upside, but this is commentary rather than company news and is unlikely by itself to move the stock. Lyft: The Ride Is Bound For Upside
• Neutral Sentiment: Short-interest data showed no meaningful change in reported shares, so it does not appear to provide a clear new catalyst.
• Negative Sentiment: Lyft was downgraded by Zacks Research from “hold” to “strong sell,” which can weigh on sentiment and contribute to selling pressure. Zacks.com downgrade
• Negative Sentiment: New Orleans may add a $1 fee to Uber, Lyft and taxi rides, a potential cost headwind that could hurt ride demand or margins in that market. New Orleans may add $1 fee to Uber, Lyft and taxi rides

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.