Lyft, Inc. $LYFT Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 22.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 449,299 shares of the ride-sharing company’s stock after purchasing an additional 83,412 shares during the quarter. California State Teachers Retirement System’s holdings in Lyft were worth $5,976,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Lyft in the 4th quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 4th quarter worth $40,000. Huntington National Bank raised its position in shares of Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 1,374 shares during the period. Boreal Capital Management LLC purchased a new position in shares of Lyft in the 1st quarter worth $31,000. Finally, Bessemer Group Inc. boosted its holdings in Lyft by 1,851.9% in the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lindsay Catherine Llewellyn sold 36,214 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $16.14, for a total value of $584,493.96. Following the sale, the insider directly owned 817,517 shares of the company’s stock, valued at $13,194,724.38. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was 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 approximately $4,615,970.88. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 81,749 shares of company stock valued at $1,221,950. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYFT. JPMorgan Chase & Co. lifted their price target on shares of Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. William Blair cut shares of Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Zacks Research downgraded Lyft from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Tigress Financial restated a “buy” rating and set a $28.00 price objective on shares of Lyft in a research note on Wednesday, June 24th. Twelve investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.43.

Lyft Trading Down 1.5%

Shares of LYFT opened at $16.48 on Thursday. The company has a market capitalization of $6.26 billion, a P/E ratio of 2.41, a P/E/G ratio of 0.99 and a beta of 1.80. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50-day moving average price of $14.83 and a 200 day moving average price of $14.54.

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

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.