Teachers Retirement System of The State of Kentucky Trims Holdings in Lyft, Inc. (NASDAQ:LYFT)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 23.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 512,142 shares of the ride-sharing company’s stock after selling 153,576 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.12% of Lyft worth $6,607,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Lyft during the fourth quarter worth approximately $41,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Lyft during the 4th quarter worth $127,000. Capital World Investors lifted its stake in shares of Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after acquiring an additional 2,240,478 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lyft by 112.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,363,978 shares of the ride-sharing company’s stock worth $30,498,000 after acquiring an additional 1,250,967 shares during the period. Finally, Epoch Investment Partners Inc. acquired a new position in shares of Lyft during the fourth quarter worth about $1,633,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LYFT shares. UBS Group lowered their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Susquehanna dropped their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Thursday, April 17th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research note on Wednesday, March 26th. Finally, Morgan Stanley reduced their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.45.

Lyft Price Performance

LYFT opened at $11.00 on Wednesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $13.64. The stock has a market capitalization of $4.60 billion, a PE ratio of 183.33, a P/E/G ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now directly owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock worth $203,778 over the last three months. 3.07% of the stock is owned by insiders.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.