Louisiana State Employees Retirement System Purchases New Shares in Lyft, Inc. $LYFT

Louisiana State Employees Retirement System acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 176,600 shares of the ride-sharing company’s stock, valued at approximately $2,349,000.

Several other hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC purchased a new position in shares of Lyft in the 1st quarter worth approximately $167,000. OP Asset Management Ltd purchased a new stake in shares of Lyft during the first quarter valued at approximately $992,000. World Investment Advisors increased its position in shares of Lyft by 50.4% during the fourth quarter. World Investment Advisors now owns 14,652 shares of the ride-sharing company’s stock valued at $284,000 after acquiring an additional 4,913 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Lyft by 120.7% during the fourth quarter. Corient Private Wealth LLC now owns 63,365 shares of the ride-sharing company’s stock worth $1,227,000 after acquiring an additional 34,654 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Lyft by 161.0% in the fourth quarter. Hsbc Holdings PLC now owns 635,593 shares of the ride-sharing company’s stock worth $12,280,000 after purchasing an additional 392,053 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LYFT. Tigress Financial reaffirmed a “buy” rating and set a $28.00 target price on shares of Lyft in a research report on Wednesday, June 24th. William Blair lowered shares of Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Rothschild & Co Redburn upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.40.

Lyft Trading Up 6.9%

Shares of Lyft stock opened at $15.25 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The firm has a market cap of $5.79 billion, a PE ratio of 2.23, a PEG ratio of 0.85 and a beta of 1.82. The company has a 50 day simple moving average of $14.03 and a two-hundred day simple moving average of $15.32.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Analysts expect that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the firm’s 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 transaction, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. 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, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the completion of the sale, the insider owned 853,731 shares of the company’s stock, valued at $12,805,965. The trade was a 1.33% 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. In the last three months, insiders sold 69,196 shares of company stock worth $992,371. 0.92% of the stock is currently owned by company insiders.

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.