Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 87.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,374 shares of the ride-sharing company’s stock after acquiring an additional 121,142 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lyft were worth $3,320,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. grew its position in shares of Lyft by 4.4% in the second 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. XTX Topco Ltd lifted its stake in Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock valued at $538,000 after buying an additional 1,043 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Lyft by 9.1% during the 2nd 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. The Manufacturers Life Insurance Company increased its position in Lyft by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock worth $1,054,000 after buying an additional 1,315 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Lyft by 26.4% in the second 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 last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Loop Capital increased their price objective on Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Nomura Securities upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Wedbush reissued a “neutral” rating and set a $20.00 price objective (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial boosted their price target on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.77.

Lyft Stock Up 1.1 %

Shares of NASDAQ LYFT opened at $14.29 on Tuesday. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The business has a fifty day moving average of $15.36 and a two-hundred day moving average of $13.55. The stock has a market cap of $5.93 billion, a PE ratio of -89.31, a PEG ratio of 4.47 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s revenue was up 31.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, equities research analysts expect that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now directly owns 755,847 shares of the company’s stock, valued at $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock worth $427,330 in the last quarter. Insiders own 3.07% of the company’s stock.

About Lyft

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.