Sei Investments Co. Has $12.80 Million Position in Lyft, Inc. $LYFT

Sei Investments Co. lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 33.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 962,312 shares of the ride-sharing company’s stock after selling 488,278 shares during the period. Sei Investments Co. owned 0.24% of Lyft worth $12,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after purchasing an additional 2,921 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Lyft by 44.0% during 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 acquired a new stake in shares of Lyft during the 2nd quarter worth about $470,000. Invesco Ltd. boosted its holdings in shares of Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after buying an additional 497,118 shares during the period. Finally, California Public Employees Retirement System grew its stake in Lyft by 12.6% in 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 buying an additional 79,634 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LYFT. Truist Financial increased their price target on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Morgan Stanley boosted their price objective on Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday. Roth Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Lyft in a research report on Friday, May 8th. Sanford C. Bernstein began coverage on Lyft in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. Finally, William Blair lowered Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average price target of $19.43.

Lyft Trading Up 2.0%

LYFT stock opened at $15.86 on Friday. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a market capitalization of $6.02 billion, a PE ratio of 2.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80. The company’s 50-day simple moving average is $14.66 and its 200 day simple moving average is $14.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.Lyft’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. As a group, sell-side analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Lyft

In related news, CAO Stephen W. Hope sold 5,460 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at approximately $4,615,970.88. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,535 shares of company stock valued at $637,456 over the last ninety days. Company insiders own 0.92% of the company’s stock.

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.