New York State Common Retirement Fund Decreases Stake in Lyft, Inc. $LYFT

New York State Common Retirement Fund trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 87.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 273,972 shares of the ride-sharing company’s stock after selling 1,927,200 shares during the period. New York State Common Retirement Fund owned about 0.07% of Lyft worth $6,030,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LYFT. Quent Capital LLC acquired a new position in shares of Lyft in the 3rd quarter valued at $34,000. Bogart Wealth LLC raised its stake in shares of Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Lyft by 410.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 2,587 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Lyft during the second quarter worth about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lyft by 32.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,286 shares of the ride-sharing company’s stock worth $83,000 after buying an additional 1,304 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Stock Down 2.0%

NASDAQ:LYFT opened at $15.84 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 1.01 and a beta of 1.93. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The stock has a 50-day simple moving average of $19.34 and a 200 day simple moving average of $18.98.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other Lyft news, CEO John David Risher bought 5,030 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the completion of the acquisition, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jill Beggs sold 1,466 shares of Lyft stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $29,686.50. Following the completion of the transaction, the director directly owned 34,278 shares of the company’s stock, valued at $694,129.50. This trade represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 187,443 shares of company stock valued at $4,178,618 over the last three months. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LYFT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a report on Thursday, January 22nd. Cantor Fitzgerald dropped their price objective on Lyft from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Arete Research set a $20.00 target price on shares of Lyft and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group increased their price objective on shares of Lyft from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Lyft in a research report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.76.

Lyft Company 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.