Teachers Retirement System of The State of Kentucky Makes New Investment in Lyft, Inc. $LYFT

Teachers Retirement System of The State of Kentucky purchased a new position in Lyft, Inc. (NASDAQ:LYFT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 98,000 shares of the ride-sharing company’s stock, valued at approximately $1,304,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYFT. Empowered Funds LLC increased its holdings in Lyft by 13.7% in the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after buying an additional 2,921 shares in the last quarter. Focus Partners Wealth raised its position in Lyft by 44.0% in the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after buying an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Lyft during the 2nd quarter valued at about $470,000. Invesco Ltd. lifted its stake in Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after acquiring an additional 497,118 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock valued at $11,177,000 after acquiring an additional 79,634 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jill Beggs sold 2,093 shares of the 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 owned 30,092 shares in the company, valued at approximately $414,065.92. This trade represents a 6.50% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,196 shares of company stock valued at $992,371 in the last ninety days. Insiders own 0.92% of the company’s stock.

Lyft Stock Performance

LYFT opened at $16.23 on Thursday. The company has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $14.95. 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 firm has a market cap of $6.16 billion, a P/E ratio of 2.37, a PEG ratio of 0.93 and a beta of 1.80. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm 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 firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. Equities analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup began coverage on shares of Lyft in a report on Wednesday, June 17th. They set a “buy” rating for the company. William Blair lowered shares of Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Roth Capital reissued a “buy” rating and set a $23.00 price target on shares of Lyft in a report on Friday, May 8th. Guggenheim reissued a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Finally, Jefferies Financial Group raised their price target on Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average target price of $19.40.

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.