Strs Ohio Trims Position in Lyft, Inc. $LYFT

Strs Ohio cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 84.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,517 shares of the ride-sharing company’s stock after selling 52,548 shares during the period. Strs Ohio’s holdings in Lyft were worth $209,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Amalgamated Bank grew its stake in Lyft by 2.5% during the third quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock valued at $477,000 after acquiring an additional 534 shares in the last quarter. Earned Wealth Advisors LLC boosted its holdings in Lyft by 4.8% in the 3rd quarter. Earned Wealth Advisors LLC now owns 19,164 shares of the ride-sharing company’s stock valued at $422,000 after purchasing an additional 881 shares during the period. Main Street Financial Solutions LLC grew its position in shares of Lyft by 3.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 24,688 shares of the ride-sharing company’s stock valued at $389,000 after purchasing an additional 909 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of Lyft by 46.3% in the third quarter. Bogart Wealth LLC now owns 3,161 shares of the ride-sharing company’s stock worth $70,000 after purchasing an additional 1,000 shares during the period. Finally, Kaufman Rossin Wealth LLC raised its position in shares of Lyft by 3.6% in the third quarter. Kaufman Rossin Wealth LLC now owns 33,342 shares of the ride-sharing company’s stock worth $734,000 after buying an additional 1,154 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insider Transactions at Lyft

In other Lyft news, 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 transaction, the director directly owned 104,460 shares of the company’s stock, valued at $2,355,573. The trade was a 5.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John David Risher acquired 5,030 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the purchase, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This trade represents a 0.04% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 187,443 shares of company stock valued at $4,178,618. 3.07% of the stock is currently owned by corporate insiders.

Lyft Trading Up 2.3%

LYFT stock opened at $17.26 on Tuesday. The company has a market capitalization of $6.89 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 1.05 and a beta of 1.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The company’s 50 day moving average price is $19.56 and its two-hundred day moving average price is $19.00.

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

Analyst Ratings Changes

LYFT has been the subject of several research analyst reports. Guggenheim lifted their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. UBS Group reiterated a “neutral” rating on shares of Lyft in a research report on Monday. DA Davidson set a $22.00 price objective on shares of Lyft in a research report on Thursday, November 6th. Jefferies Financial Group dropped their target price on shares of Lyft from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. Finally, Evercore ISI increased their price target on shares of Lyft from $15.00 to $30.00 and gave the stock an “in-line” rating in a report on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Lyft has an average rating of “Hold” and an average target price of $22.76.

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.