Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Lyft, Inc. (NASDAQ:LYFT) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 857,384 shares of the ride-sharing company’s stock after selling 251,531 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.22% of Lyft worth $12,852,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Lyft during the fourth quarter worth $34,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Lyft in the fourth quarter valued at $40,000. Quarry LP acquired a new stake in Lyft during the 4th quarter valued at $44,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Lyft by 77.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after buying an additional 1,567 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

LYFT stock traded down $0.31 during trading hours on Friday, hitting $14.17. 16,914,195 shares of the stock traded hands, compared to its average volume of 13,980,104. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. The stock has a 50-day simple moving average of $16.49 and a 200 day simple moving average of $15.68. Lyft, Inc. has a one year low of $8.85 and a one year high of $20.82. The company has a market cap of $5.72 billion, a P/E ratio of -30.15 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Equities analysts forecast that Lyft, Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, President Kristin Sverchek sold 16,000 shares of Lyft stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the transaction, the president now owns 80,978 shares in the company, valued at $1,619,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Kristin Sverchek sold 16,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the sale, the president now directly owns 80,978 shares of the company’s stock, valued at $1,619,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,033 shares of company stock valued at $4,782,237. Company insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Vertical Research upgraded Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Piper Sandler restated an “overweight” rating and set a $24.00 price objective (up previously from $23.00) on shares of Lyft in a research note on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Friday, June 7th. Wedbush increased their target price on Lyft from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Finally, BMO Capital Markets lifted their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $18.04.

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.