Police & Firemen s Retirement System of New Jersey Has $2.40 Million Stake in Lyft, Inc. $LYFT

Police & Firemen s Retirement System of New Jersey increased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 12.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 152,229 shares of the ride-sharing company’s stock after acquiring an additional 16,703 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Lyft were worth $2,399,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Rakuten Group Inc. acquired a new stake in shares of Lyft during the first quarter valued at about $130,434,000. Ameriprise Financial Inc. boosted its position in Lyft by 26.3% during the 1st quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after buying an additional 5,178,118 shares during the period. AQR Capital Management LLC grew its holdings in Lyft by 103.3% during the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock worth $110,598,000 after acquiring an additional 4,980,876 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Lyft by 83,744.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company’s stock valued at $37,331,000 after acquiring an additional 3,141,240 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Lyft by 415.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company’s stock valued at $58,547,000 after acquiring an additional 2,993,807 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Up 0.6%

Shares of Lyft stock opened at $21.70 on Wednesday. The stock’s 50-day moving average is $21.15 and its 200 day moving average is $17.44. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 57.11, a PEG ratio of 2.15 and a beta of 2.36. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the sale, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John David Risher acquired 5,926 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the acquisition, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 59,427 shares of company stock valued at $1,024,086 over the last ninety days. 3.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYFT. DA Davidson set a $22.00 price objective on shares of Lyft in a research note on Thursday, November 6th. Bank of America lifted their target price on Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Canaccord Genuity Group upped their price target on Lyft from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company raised their price objective on Lyft from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.85.

Lyft 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.