Arizona State Retirement System Acquires 5,784 Shares of Lyft, Inc. (NASDAQ:LYFT)

Arizona State Retirement System grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,453 shares of the ride-sharing company’s stock after purchasing an additional 5,784 shares during the quarter. Arizona State Retirement System’s holdings in Lyft were worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Lyft during the 4th quarter valued at about $176,000. Swiss National Bank boosted its stake in shares of Lyft by 2.4% during the fourth quarter. Swiss National Bank now owns 750,400 shares of the ride-sharing company’s stock valued at $9,680,000 after purchasing an additional 17,900 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock worth $36,000 after purchasing an additional 2,000 shares during the last quarter. Xponance Inc. lifted its position in Lyft by 10.5% during the fourth quarter. Xponance Inc. now owns 43,045 shares of the ride-sharing company’s stock valued at $555,000 after acquiring an additional 4,087 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Lyft by 237.6% in the fourth quarter. Teacher Retirement System of Texas now owns 306,016 shares of the ride-sharing company’s stock valued at $3,948,000 after buying an additional 215,376 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of NASDAQ:LYFT opened at $14.76 on Friday. The company’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $13.68. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $6.17 billion, a PE ratio of 98.40, a price-to-earnings-growth ratio of 2.90 and a beta of 2.20.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. On average, equities analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Lyft from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Barclays raised their target price on shares of Lyft from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Susquehanna raised their price objective on Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Bank of America cut shares of Lyft from a “buy” rating to an “underperform” rating and set a $10.50 price target for the company. in a research note on Thursday, April 3rd. Finally, UBS Group upped their price objective on shares of Lyft from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $16.78.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the sale, the insider directly owned 959,697 shares of the company’s stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the transaction, the director owned 879,498 shares of the company’s stock, valued at $13,896,068.40. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,732 shares of company stock valued at $347,159. Company insiders own 3.07% of the company’s stock.

Lyft Company 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.