California Public Employees Retirement System Has $11 Million Stake in Lyft, Inc. $LYFT

California Public Employees Retirement System grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 827,111 shares of the ride-sharing company’s stock after purchasing an additional 61,741 shares during the period. California Public Employees Retirement System owned about 0.21% of Lyft worth $11,001,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of LYFT. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft during the fourth quarter valued at approximately $26,000. Bessemer Group Inc. grew its holdings in Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 2,500 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Lyft in the 4th quarter valued at $40,000. Huntington National Bank raised its position in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in Lyft in the 1st quarter valued at $43,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Stock Up 1.3%

Shares of NASDAQ:LYFT opened at $14.20 on Friday. The company has a market capitalization of $5.39 billion, a PE ratio of 2.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The business has a fifty day moving average price of $14.46 and a two-hundred day moving average price of $14.77. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. Analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

LYFT has been the topic of a number of analyst reports. Sanford C. Bernstein started coverage on shares of Lyft in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. Guggenheim reiterated a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Oppenheimer assumed coverage on shares of Lyft in a research report on Wednesday, June 17th. They set an “outperform” rating on the stock. Canaccord Genuity Group cut their price target on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Finally, Truist Financial boosted their price target on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.40.

Insider Activity at Lyft

In related news, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the sale, the chief accounting officer owned 335,463 shares in the company, valued at approximately $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This represents a 6.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,535 shares of company stock worth $637,456 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

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.