New York State Teachers Retirement System Buys Shares of 33,204 Lyft, Inc. (NASDAQ:LYFT)

New York State Teachers Retirement System purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the third quarter, Holdings Channel.com reports. The fund purchased 33,204 shares of the ride-sharing company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LYFT. Price T Rowe Associates Inc. MD grew its stake in Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after buying an additional 1,218,620 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Lyft by 27,739.2% during the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after acquiring an additional 1,188,625 shares during the period. Bank of New York Mellon Corp grew its position in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after acquiring an additional 812,926 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after acquiring an additional 782,736 shares during the period. Finally, Quadrature Capital Ltd lifted its position in Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock valued at $11,767,000 after purchasing an additional 521,537 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on LYFT shares. Evercore ISI upped their target price on shares of Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up from $17.00) on shares of Lyft in a research report on Thursday. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald increased their price target on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lyft currently has an average rating of “Hold” and a consensus price target of $17.23.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at $8,988,544.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the transaction, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,664 shares of company stock valued at $380,048. Company insiders own 3.07% of the company’s stock.

Lyft Trading Up 0.5 %

NASDAQ:LYFT opened at $17.78 on Monday. The stock has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $13.51. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of -111.13 and a beta of 2.04. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. Sell-side analysts forecast that Lyft, Inc. will post -0.06 earnings per share for the current year.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.