Pinnacle Associates Ltd. Trims Holdings in Lyft, Inc. $LYFT

Pinnacle Associates Ltd. reduced its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 82.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,881 shares of the ride-sharing company’s stock after selling 264,547 shares during the period. Pinnacle Associates Ltd.’s holdings in Lyft were worth $1,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd lifted its stake in shares of Lyft by 10.1% during the third quarter. Vinva Investment Management Ltd now owns 27,568 shares of the ride-sharing company’s stock valued at $607,000 after buying an additional 2,526 shares during the period. Obsidian Personal Planning Solutions LLC purchased a new stake in Lyft in the 3rd quarter worth approximately $258,000. First Trust Advisors LP raised its holdings in Lyft by 82.6% in the 3rd quarter. First Trust Advisors LP now owns 344,354 shares of the ride-sharing company’s stock valued at $7,579,000 after acquiring an additional 155,723 shares during the last quarter. Neo Ivy Capital Management raised its holdings in Lyft by 331.4% in the 3rd quarter. Neo Ivy Capital Management now owns 117,646 shares of the ride-sharing company’s stock valued at $2,589,000 after acquiring an additional 90,376 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in shares of Lyft by 13.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 12,372 shares of the ride-sharing company’s stock worth $272,000 after purchasing an additional 1,448 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lyft news, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the completion of the transaction, the director owned 32,185 shares in the company, valued at $447,049.65. This represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 5,284 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the sale, the chief accounting officer directly owned 300,570 shares of the company’s stock, valued at $4,156,883.10. This trade represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 31,038 shares of company stock valued at $416,841. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Mizuho lowered their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. KeyCorp reiterated a “sector weight” rating on shares of Lyft in a research report on Wednesday, February 11th. Roth Mkm set a $22.00 price target on Lyft in a research note on Wednesday, February 11th. Wedbush lowered their price target on Lyft from $16.00 to $13.00 and set an “underperform” rating for the company in a report on Wednesday, February 11th. Finally, Evercore set a $21.00 price objective on shares of Lyft in a research note on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $19.63.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $13.31 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.65 and a quick ratio of 0.65. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $25.54. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 1.95, a PEG ratio of 0.80 and a beta of 1.92. The business has a 50-day moving average of $16.20 and a 200-day moving average of $18.89.

Lyft announced that its board has authorized a share buyback plan on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Some EV drivers on Lyft report higher earnings as rising gasoline prices reduce participation by ICE drivers, which can raise fares/dispatch rates for remaining drivers and help EV-driver earnings and retention. EV Owners On Uber, Lyft Benefited From Rising Gas Prices As ICE Vehicle Drivers Ration Trips Amid US-Iran War: Report
• Positive Sentiment: Local promotions and public-safety voucher programs (e.g., free/reduced Lyft rides for events) are driving short-term incremental demand and goodwill in local markets. These are small but near-term supportive for trip volumes. Summit County authorities offer free or reduced Lyft rides this St. Patrick’s Day
• Neutral Sentiment: Drivers are rethinking which trips to accept amid soaring fuel costs — a mixed signal: could push fares higher (good for revenue per trip) but reduce supply/availability and customer experience. This dynamic makes near-term utilization and margins volatile. ‘Decline and recline’: Uber and Lyft drivers are rethinking what trips to accept
• Neutral Sentiment: Analysts and commentators are revisiting Lyft’s valuation amid divergent narratives — short-term trading volatility contrasts with longer-term questions about growth and profitability. This keeps the stock sensitive to headlines. A Look At Lyft (LYFT) Valuation As Market Narratives Diverge On Fair Value
• Negative Sentiment: Los Angeles World Airports approved proposed fee increases (and LAX is moving toward a possible $12 surcharge on TNC/taxi trips tied to the Automated People Mover). Airport fee hikes raise costs for riders or reduce Lyft’s margins if the company absorbs fees — a meaningful headwind given LAX’s importance as a major market. LAX board approves fee hike for companies like Uber, Lyft and others
• Negative Sentiment: A federal jury recently found Lyft liable for infringing a mobile mapping patent and ordered damages, raising legal costs and the prospect of injunctions or larger liability — an important medium-term risk to cash flow and operations if appeals or further rulings go against the company. LAX Fee Hike And Patent Ruling Reframe Lyft’s Regulatory Risk Profile

Lyft Company 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.