Lyft, Inc. $LYFT Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 62.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,189,313 shares of the ride-sharing company’s stock after acquiring an additional 1,223,536 shares during the quarter. Pacer Advisors Inc. owned 0.84% of Lyft worth $42,418,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LYFT. Parallel Advisors LLC grew its stake in shares of Lyft by 47.0% during the 1st quarter. Parallel Advisors LLC now owns 4,650 shares of the ride-sharing company’s stock worth $62,000 after purchasing an additional 1,487 shares during the period. Centaurus Financial Inc. grew its position in Lyft by 16.4% during the first quarter. Centaurus Financial Inc. now owns 61,042 shares of the ride-sharing company’s stock valued at $812,000 after buying an additional 8,600 shares during the period. Bull Harbor Capital LLC purchased a new position in Lyft in the first quarter valued at $160,000. Altshuler Shaham Ltd raised its position in shares of Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Lyft by 22.8% during the 1st quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company’s stock worth $5,976,000 after acquiring an additional 83,412 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 3.3%

Shares of LYFT opened at $16.38 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a one year low of $12.46 and a one year high of $25.54. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 2.39, a PEG ratio of 0.94 and a beta of 1.80. The stock has a 50 day moving average price of $14.71 and a 200 day moving average price of $14.57.

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 the consensus estimate of $0.30 by ($0.26). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. Equities research analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LYFT shares. Oppenheimer started coverage on Lyft in a research note on Wednesday, June 17th. They issued an “outperform” rating for the company. Tigress Financial reissued a “buy” rating and issued a $28.00 price objective on shares of Lyft in a report on Wednesday, June 24th. Royal Bank Of Canada reduced their target price on Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Guggenheim reissued a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.43.

Insider Buying and Selling at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the sale, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock worth $637,456 in the last 90 days. 0.92% of the stock is currently owned by insiders.

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.