Treasurer of the State of North Carolina Raises Position in Lyft, Inc. (NASDAQ:LYFT)

Treasurer of the State of North Carolina increased its holdings in Lyft, Inc. (NASDAQ:LYFTFree Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,208 shares of the ride-sharing company’s stock after purchasing an additional 4,740 shares during the period. Treasurer of the State of North Carolina’s holdings in Lyft were worth $2,282,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LYFT. Vanguard Group Inc. grew its stake in shares of Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after buying an additional 1,135,036 shares during the period. Norges Bank purchased a new stake in Lyft during the fourth quarter valued at about $94,687,000. Jacobs Levy Equity Management Inc. grew its position in Lyft by 5.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock valued at $59,229,000 after acquiring an additional 300,982 shares during the period. Invesco Ltd. increased its stake in Lyft by 21.3% during the third quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after acquiring an additional 778,563 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after purchasing an additional 141,823 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Performance

Shares of LYFT stock opened at $15.69 on Friday. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -33.38 and a beta of 2.09. Lyft, Inc. has a one year low of $8.85 and a one year high of $20.82. The company’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $15.46. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.

Lyft (NASDAQ:LYFTGet Free Report) last issued its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. Equities analysts anticipate that Lyft, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LYFT shares. Moffett Nathanson raised shares of Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. BMO Capital Markets raised their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. TD Cowen raised their price objective on Lyft from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.70.

Check Out Our Latest Analysis on LYFT

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 6,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total value of $102,505.00. Following the transaction, the president now directly owns 54,278 shares in the company, valued at approximately $855,964.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Lyft news, President Kristin Sverchek sold 6,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $15.77, for a total value of $102,505.00. Following the transaction, the president now owns 54,278 shares of the company’s stock, valued at $855,964.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The disclosure for this sale can be found here. Insiders sold a total of 246,033 shares of company stock worth $4,782,237 over the last 90 days. Insiders own 3.07% of the company’s stock.

Lyft Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFTFree Report).

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.