Strs Ohio Takes $978,000 Position in Lyft, Inc. $LYFT

Strs Ohio acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 62,065 shares of the ride-sharing company’s stock, valued at approximately $978,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lyft in the second quarter worth about $32,000. GAMMA Investing LLC lifted its position in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the last quarter. Bogart Wealth LLC boosted its stake in Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Lyft during the 1st quarter valued at approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at $9,064,085.16. This trade represents a 2.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the transaction, the insider owned 835,782 shares in the company, valued at approximately $16,715,640. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 74,427 shares of company stock worth $1,252,686. Corporate insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of Lyft stock opened at $21.25 on Friday. The firm has a market cap of $8.64 billion, a P/E ratio of 55.92, a price-to-earnings-growth ratio of 3.51 and a beta of 2.36. The firm’s 50-day simple moving average is $20.17 and its 200-day simple moving average is $16.74. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $23.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 17.08%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYFT. Canaccord Genuity Group lifted their price target on Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Wall Street Zen lowered shares of Lyft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Cowen reiterated a “buy” rating on shares of Lyft in a research note on Thursday. Evercore ISI restated a “mixed” rating and issued a $30.00 price target on shares of Lyft in a research report on Thursday. Finally, Mizuho started coverage on shares of Lyft in a research report on Tuesday, September 30th. They set a “neutral” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $21.57.

Lyft Company 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.