Voya Investment Management LLC Sells 163,979 Shares of Lyft, Inc. $LYFT

Voya Investment Management LLC decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 37.8% in the 3rd quarter, Holdings Channel reports. The firm owned 269,445 shares of the ride-sharing company’s stock after selling 163,979 shares during the period. Voya Investment Management LLC’s holdings in Lyft were worth $5,930,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LYFT. MassMutual Private Wealth & Trust FSB raised its position in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lyft during the second quarter valued at about $32,000. Bogart Wealth LLC lifted its holdings in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after buying an additional 2,000 shares during the period. Tower Research Capital LLC TRC lifted its stake in Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 2,587 shares during the period. Finally, SRH Advisors LLC bought a new stake in shares of Lyft during the 2nd quarter valued at about $62,000. 83.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LYFT shares. Jefferies Financial Group dropped their price target on Lyft from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Wells Fargo & Company increased their price objective on Lyft from $20.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 9th. Wall Street Zen downgraded shares of Lyft from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets upped their price target on shares of Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.80.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 1,466 shares of Lyft stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $20.25, for a total value of $29,686.50. Following the completion of the transaction, the director owned 34,278 shares in the company, valued at approximately $694,129.50. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Lawee sold 6,578 shares of Lyft stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director owned 104,460 shares of the company’s stock, valued at approximately $2,355,573. This trade represents a 5.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 187,443 shares of company stock worth $4,178,618 in the last quarter. Company insiders own 3.07% of the company’s stock.

Lyft Trading Down 0.1%

LYFT stock opened at $19.58 on Thursday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 51.51, a PEG ratio of 1.95 and a beta of 1.99. The business has a 50 day simple moving average of $20.87 and a two-hundred day simple moving average of $18.33. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $25.54. 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 posted its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.Lyft’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

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.