Maryland State Retirement & Pension System Buys 58,008 Shares of Lyft, Inc. $LYFT

Maryland State Retirement & Pension System grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 282.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,569 shares of the ride-sharing company’s stock after purchasing an additional 58,008 shares during the period. Maryland State Retirement & Pension System’s holdings in Lyft were worth $1,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio increased its holdings in Lyft by 4,527.6% in the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after buying an additional 430,888 shares during the period. West Tower Group LLC lifted its holdings in shares of Lyft by 207.6% during the 1st quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock worth $1,841,000 after acquiring an additional 93,432 shares during the period. OP Asset Management Ltd bought a new position in shares of Lyft during the 1st quarter worth about $992,000. Sivia Capital Partners LLC acquired a new stake in shares of Lyft during the 2nd quarter valued at about $470,000. Finally, Swedbank AB acquired a new stake in shares of Lyft during the 4th quarter valued at about $108,472,000. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the sale, the insider directly owned 853,731 shares in the company, valued at $12,805,965. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were 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 of the company’s stock, valued at $9,594,254.61. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,535 shares of company stock valued at $637,456 over the last quarter. 0.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYFT. Royal Bank Of Canada dropped their price target on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Truist Financial lifted their price objective on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Canaccord Genuity Group lowered their price objective on Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Citigroup began coverage on Lyft in a report on Wednesday, June 17th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group increased their target price on Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $19.40.

Lyft Trading Down 1.5%

Shares of LYFT stock opened at $15.98 on Friday. The company has a market capitalization of $6.07 billion, a P/E ratio of 2.33, a P/E/G ratio of 0.96 and a beta of 1.80. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $14.32 and a 200 day moving average price of $14.93.

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 firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.Lyft’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. Research analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Lyft 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.