Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases New Holdings in Lyft, Inc. $LYFT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 98,450 shares of the ride-sharing company’s stock, valued at approximately $1,309,000.

Several other large investors also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its holdings 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 valued at $75,000 after buying an additional 639 shares during the period. PNC Financial Services Group Inc. lifted 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 worth $248,000 after acquiring an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted 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 worth $352,000 after acquiring an additional 756 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Lyft by 0.5% during the 3rd 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 during the period. Finally, GAMMA Investing LLC boosted its position in shares of Lyft by 34.7% during the 4th quarter. GAMMA Investing LLC now owns 3,279 shares of the ride-sharing company’s stock worth $64,000 after purchasing an additional 845 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LYFT shares. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, June 17th. Sanford C. Bernstein began coverage on shares of Lyft in a research report on Wednesday, June 17th. They set an “underperform” rating for the company. Canaccord Genuity Group cut their target price on Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada dropped their target price on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Morgan Stanley upgraded shares of Lyft from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 17th. Thirteen analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.40.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $15.52 on Friday. The stock has a fifty day moving average price of $14.34 and a 200 day moving average price of $14.93. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $5.89 billion, a PE ratio of 2.27, a P/E/G ratio of 0.95 and a beta of 1.80.

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

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 5,460 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 transaction of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at $4,615,970.88. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares of the company’s stock, valued at $9,594,254.61. This trade 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 ninety days, insiders sold 45,535 shares of company stock worth $637,456. Insiders own 0.92% of the company’s stock.

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.