Oregon Public Employees Retirement Fund Takes $1.21 Million Position in Lyft, Inc. $LYFT

Oregon Public Employees Retirement Fund bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 91,000 shares of the ride-sharing company’s stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. West Tower Group LLC raised its stake in shares of Lyft by 207.6% during the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after purchasing an additional 93,432 shares during the period. Ascentis Independent Advisors purchased a new position in shares of Lyft in the first quarter valued at $43,000. Praxis Investment Management Inc. boosted its stake in shares of Lyft by 9.5% in the first quarter. Praxis Investment Management Inc. now owns 14,538 shares of the ride-sharing company’s stock valued at $193,000 after purchasing an additional 1,258 shares during the period. World Investment Advisors boosted its stake in shares of Lyft by 82.8% in the first quarter. World Investment Advisors now owns 26,791 shares of the ride-sharing company’s stock valued at $356,000 after purchasing an additional 12,139 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Lyft by 68.2% during the 1st quarter. New York State Teachers Retirement System now owns 61,605 shares of the ride-sharing company’s stock valued at $819,000 after purchasing an additional 24,988 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Trading Up 0.4%

LYFT opened at $15.67 on Tuesday. The stock has a market capitalization of $5.95 billion, a PE ratio of 2.29, a P/E/G ratio of 0.93 and a beta of 1.80. The firm’s fifty day moving average price is $14.21 and its 200 day moving average price is $15.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

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

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This trade represents a 1.33% decrease in their ownership of the stock. 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, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This represents a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 69,196 shares of company stock worth $992,371. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of several analyst reports. Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Morgan Stanley raised Lyft from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. boosted their price target on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and a consensus target price of $19.40.

About Lyft

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.