Lyft, Inc. $LYFT Shares Sold by FORA Capital LLC

FORA Capital LLC lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 34.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,135 shares of the ride-sharing company’s stock after selling 52,602 shares during the quarter. FORA Capital LLC’s holdings in Lyft were worth $2,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quent Capital LLC acquired a new position in Lyft during the third quarter valued at $34,000. Abich Financial Wealth Management LLC purchased a new position in shares of Lyft during the 3rd quarter valued at about $50,000. CI Investments Inc. lifted its holdings in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 653 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Lyft by 410.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 2,587 shares during the period. Finally, Optiver Holding B.V. purchased a new stake in shares of Lyft in the third quarter worth about $54,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total transaction of $314,691.30. Following the transaction, the insider owned 696,850 shares in the company, valued at $9,268,105. This trade represents a 3.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 5,284 shares of Lyft stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the sale, the chief accounting officer directly owned 300,570 shares in the company, valued at $4,156,883.10. This represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,038 shares of company stock worth $416,841 in the last quarter. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Performance

NASDAQ LYFT opened at $13.07 on Friday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 1.92, a PEG ratio of 0.78 and a beta of 1.92. The stock has a 50-day moving average of $15.94 and a 200 day moving average of $18.82. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $25.54.

Lyft declared that its board has authorized a stock repurchase program on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 15.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Key Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Technicals suggest a potential bottom around current levels — market commentary highlights bullish MACD/RSI signals and a possible triple-bottom pattern that can attract momentum buyers. (Market technicals may be driving some of today’s buying pressure)
• Positive Sentiment: Lyft is participating in safe-driving promotions (Nevada St. Patrick’s Day discounts) and partnering with safety groups for holiday campaigns, which can boost short-term rides and positive PR. Nevada safe-driving initiative offering Lyft discounts
• Neutral Sentiment: Lyft reached a settlement in Minnesota that includes new commitments to guarantee rides for passengers with service animals nationwide — this reduces regulatory/reputational risk going forward but creates uncertainty around implementation and training costs. How a service dog named Alfred sparked a Lyft settlement
• Negative Sentiment: The Minnesota case also led to a payout and penalties (reported roughly $63K in one local story) and highlights litigation/reputational costs tied to ADA compliance — near-term legal and remediation expenses weigh on sentiment. Lyft slapped with $63K payout after Minnesota guide dog rider left stranded
• Negative Sentiment: Los Angeles International Airport approved higher rideshare fees that could push fares up and/or reduce demand for airport trips — a localized cost/volume headwind for Lyft and Uber. Uber and Lyft fees to LAX are going up
• Negative Sentiment: Fundamentals remain a caution: coverage noting LYFT is down since the last earnings report and questions around profitability/expense control persist, which could limit upside until earnings improve. Lyft down since last earnings report

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore set a $21.00 target price on Lyft in a report on Wednesday, February 11th. KeyCorp reissued a “sector weight” rating on shares of Lyft in a report on Wednesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Wednesday, February 11th. UBS Group reaffirmed a “neutral” rating on shares of Lyft in a report on Monday, February 2nd. Finally, Wedbush decreased their target price on shares of Lyft from $16.00 to $13.00 and set an “underperform” rating for the company in a research note on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.63.

About Lyft

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.