Readystate Asset Management LP Has $3.08 Million Position in Lyft, Inc. $LYFT

Readystate Asset Management LP raised its position in Lyft, Inc. (NASDAQ:LYFT) by 45.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,292 shares of the ride-sharing company’s stock after purchasing an additional 71,892 shares during the period. Readystate Asset Management LP owned approximately 0.06% of Lyft worth $3,076,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Lyft by 7.4% in the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after buying an additional 1,773,438 shares during the period. Renaissance Technologies LLC raised its stake in Lyft by 15.4% during the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock worth $191,245,000 after buying an additional 1,320,938 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lyft by 58.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Norges Bank bought a new position in Lyft during the fourth quarter worth about $109,987,000. Finally, Swedbank AB bought a new position in Lyft during the fourth quarter worth about $108,472,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Robotaxi testing expands internationally: Lyft and Baidu have begun testing autonomous vehicles in London through Lyft’s partnership with Baidu and Freenow, which Lyft owns. The initiative strengthens Lyft’s positioning in the emerging robotaxi market and could create long-term growth opportunities, although commercial deployment and financial benefits remain uncertain. Lyft and Baidu enter London’s robotaxi battleground as testing begins
• Positive Sentiment: New board appointment adds operating experience: Alaska Air Group CEO Ben Minicucci joined Lyft’s board, bringing public-company, transportation and international operating expertise as Lyft develops its mobility and autonomous-driving strategy. Lyft Welcomes Ben Minicucci to Board of Directors
• Neutral Sentiment: Insurance transaction completed: RiverStone completed a loss portfolio transfer involving a Lyft unit. Such a deal may reduce legacy insurance exposure and improve risk management, but the articles provide no financial terms to determine the effect on earnings or cash flow. RiverStone completes LPT deal with Lyft unit
• Neutral Sentiment: Valuation rerating has not materialized: A market commentary article argues that Lyft’s earlier investment thesis has worked operationally but that investors have yet to assign the company a higher valuation, highlighting continued skepticism despite improved fundamentals. Lyft: The Trade Worked, But The Re-Rating Has Yet To Arrive
• Negative Sentiment: Legal and competitive risks remain prominent: A short seller warned that alleged sexual-assault-related claims could create multibillion-dollar liabilities, while coverage of new competitor Throo underscores pressure from rival ride-hailing platforms. These claims are allegations, but they could increase litigation costs and weigh on investor confidence. Lyft legal-liability short-seller warning
• Negative Sentiment: AI pricing practices may attract scrutiny: Consumer Reports’ review of how Uber and Lyft use AI to determine fares could raise concerns about pricing transparency, customer trust and possible regulatory oversight. Consumer Reports: How Uber and Lyft use AI to set what you pay

Insider Buying and Selling at Lyft

In other news, CAO Stephen W. Hope sold 5,460 shares of Lyft stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the sale, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,535 shares of company stock valued at $637,456 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Lyft Stock Up 2.4%

LYFT stock opened at $15.45 on Wednesday. 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 stock has a market capitalization of $5.87 billion, a P/E ratio of 2.26, a P/E/G ratio of 0.90 and a beta of 1.80. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The business has a 50-day moving average of $14.54 and a 200-day moving average of $14.67.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. On average, sell-side analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYFT has been the subject of several recent analyst reports. Sanford C. Bernstein began coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Jefferies Financial Group lifted their price objective on Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a report on Tuesday, July 14th. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. William Blair downgraded shares of Lyft to a “market perform” rating in a report on Wednesday, June 17th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $28.00 price target on shares of Lyft in a research note on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.40.

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.