New York State Teachers Retirement System Buys Shares of 33,204 Lyft, Inc. (NASDAQ:LYFT)

New York State Teachers Retirement System purchased a new position in Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 33,204 shares of the ride-sharing company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds have also made changes to their positions in LYFT. Crossmark Global Holdings Inc. raised its stake in Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after buying an additional 1,160 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Lyft by 6.1% during the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after buying an additional 1,437 shares during the period. CWM LLC grew its stake in Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after acquiring an additional 1,457 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Lyft by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after acquiring an additional 1,477 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYFT has been the topic of several analyst reports. Roth Mkm raised their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup lowered their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group increased their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush restated a “neutral” rating and issued a $20.00 target price (up from $12.00) on shares of Lyft in a report on Thursday. Finally, Canaccord Genuity Group increased their price target on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus target price of $17.23.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Logan Green sold 10,323 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,664 shares of company stock worth $380,048. Insiders own 3.07% of the company’s stock.

Lyft Stock Up 0.5 %

Shares of NASDAQ LYFT opened at $17.78 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The stock’s 50-day simple moving average is $12.96 and its 200-day simple moving average is $13.51. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of -111.13 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. Lyft’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS. As a group, equities analysts anticipate that Lyft, Inc. will post -0.06 earnings per share for the current fiscal year.

Lyft 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.