Strs Ohio decreased its holdings in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 97.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,191 shares of the ride-sharing company’s stock after selling 431,214 shares during the period. Strs Ohio’s holdings in Lyft were worth $122,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. OP Asset Management Ltd purchased a new position in Lyft during the 1st quarter valued at about $992,000. Sivia Capital Partners LLC purchased a new stake in shares of Lyft in the 2nd quarter worth approximately $470,000. Swedbank AB purchased a new stake in shares of Lyft in the 4th quarter worth approximately $108,472,000. Mawer Investment Management Ltd. bought a new position in shares of Lyft during the fourth quarter valued at approximately $9,841,000. Finally, Norges Bank bought a new position in shares of Lyft during the fourth quarter valued at approximately $109,987,000. Institutional investors own 83.07% of the company’s stock.
Insiders Place Their Bets
In related news, Director Jill Beggs sold 2,093 shares of the 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 $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares of the company’s stock, valued at $414,065.92. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction that occurred 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 owned 853,731 shares of the company’s stock, valued at $12,805,965. This trade represents a 1.33% 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. Insiders sold a total of 69,196 shares of company stock worth $992,371 in the last three months. Insiders own 0.92% of the company’s stock.
Trending Headlines about Lyft
- Positive Sentiment: Lyft announced it is giving free rides to New Yorkers traveling to job interviews and work, a move that could boost brand visibility and underscore its role in improving access to employment. Lyft is giving free rides to New Yorkers heading to job interviews and work
- Positive Sentiment: Lyft named Senthil Padmanabhan as CTO, which could support product development and technology execution at a time when the company is focused on mobility and automation initiatives. Senthil Padmanabhan Named CTO At Lyft
- Positive Sentiment: Lyft also said it will acquire Serveo’s Spanish bikeshare operations unit, signaling continued expansion in micromobility and international opportunities that could broaden revenue streams. Lyft to acquire Serveo’s Spanish bikeshare operations unit
- Neutral Sentiment: A Seeking Alpha opinion piece argued that Lyft could have further upside, but this is commentary rather than company news and is unlikely by itself to move the stock. Lyft: The Ride Is Bound For Upside
- Neutral Sentiment: Short-interest data showed no meaningful change in reported shares, so it does not appear to provide a clear new catalyst.
- Negative Sentiment: Lyft was downgraded by Zacks Research from “hold” to “strong sell,” which can weigh on sentiment and contribute to selling pressure. Zacks.com downgrade
- Negative Sentiment: New Orleans may add a $1 fee to Uber, Lyft and taxi rides, a potential cost headwind that could hurt ride demand or margins in that market. New Orleans may add $1 fee to Uber, Lyft and taxi rides
Lyft Stock Performance
Shares of LYFT opened at $15.61 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.93 billion, a PE ratio of 2.28, a P/E/G ratio of 0.93 and a beta of 1.80. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The stock has a fifty day moving average price of $14.18 and a 200-day moving average price of $15.03.
Lyft (NASDAQ:LYFT – Get Free Report) last announced its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently commented on LYFT. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Morgan Stanley raised Lyft from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 17th. Citigroup started coverage on Lyft in a report on Wednesday, June 17th. They issued a “buy” rating on the stock. Guggenheim reissued a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Finally, Canaccord Genuity Group dropped their price objective on Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Thirteen 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.40.
Read Our Latest Research Report on LYFT
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.
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