Strs Ohio Makes New $978,000 Investment in Lyft, Inc. $LYFT

Strs Ohio bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 2nd quarter, Holdings Channel reports. The firm bought 62,065 shares of the ride-sharing company’s stock, valued at approximately $978,000.

A number of other institutional investors have also made changes to their positions in LYFT. Econ Financial Services Corp acquired a new position in Lyft during the 2nd quarter worth about $602,000. SYM FINANCIAL Corp bought a new position in shares of Lyft in the second quarter worth about $320,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Lyft during the second quarter worth approximately $9,848,000. Transcend Capital Advisors LLC bought a new stake in shares of Lyft during the second quarter valued at approximately $329,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Lyft by 42.4% in the second quarter. Ashton Thomas Private Wealth LLC now owns 72,792 shares of the ride-sharing company’s stock valued at $1,147,000 after purchasing an additional 21,659 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the completion of the transaction, the chief financial officer owned 525,759 shares of the company’s stock, valued at $9,064,085.16. The trade was a 2.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the sale, the insider directly owned 835,782 shares in the company, valued at $16,715,640. The trade was a 1.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 74,427 shares of company stock valued at $1,252,686. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LYFT shares. Wedbush upped their price objective on Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Lyft from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Cowen raised their price target on Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Royal Bank Of Canada lifted their price objective on Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Cantor Fitzgerald boosted their price objective on Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.57.

Lyft Trading Up 5.8%

NASDAQ:LYFT opened at $21.25 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $23.50. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 55.92, a PEG ratio of 3.51 and a beta of 2.36. The business’s 50-day moving average price is $20.17 and its two-hundred day moving average price is $16.74.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 17.08%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

About Lyft

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.