Lyft, Inc. $LYFT Stake Increased by Altshuler Shaham Ltd

Altshuler Shaham Ltd lifted its holdings in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,662,027 shares of the ride-sharing company's stock after buying an additional 2,607,417 shares during the period. Lyft comprises approximately 1.6% of Altshuler Shaham Ltd's portfolio, making the stock its 22nd biggest position. Altshuler Shaham Ltd owned about 2.02% of Lyft worth $101,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. California State Teachers Retirement System boosted its position in Lyft by 22.8% during the 1st quarter. California State Teachers Retirement System now owns 449,299 shares of the ride-sharing company's stock worth $5,976,000 after acquiring an additional 83,412 shares during the period. Readystate Asset Management LP grew its stake in Lyft by 45.1% during the 1st quarter. Readystate Asset Management LP now owns 231,292 shares of the ride-sharing company's stock valued at $3,076,000 after acquiring an additional 71,892 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Lyft by 10.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 107,676 shares of the ride-sharing company's stock valued at $1,432,000 after purchasing an additional 10,095 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Lyft by 50.3% in the 1st quarter. Quantinno Capital Management LP now owns 342,430 shares of the ride-sharing company's stock valued at $4,554,000 after purchasing an additional 114,582 shares during the period. Finally, Ardmore Road Asset Management LP purchased a new stake in shares of Lyft in the first quarter worth approximately $3,994,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of LYFT opened at $15.45 on Wednesday. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 2.26, a price-to-earnings-growth ratio of 0.90 and a beta of 1.80. The company's fifty day moving average is $14.54 and its 200-day moving average is $14.67. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm posted $0.01 EPS. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts expect that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the completion of the sale, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares of the company's stock, valued at approximately $9,594,254.61. This represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,535 shares of company stock worth $637,456. 0.92% of the stock is currently owned by company insiders.

Key Stories Impacting Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Robotaxi testing expands internationally: Lyft and Baidu have begun testing autonomous vehicles in London through Lyft’s partnership with Baidu and Freenow, which Lyft owns. The initiative strengthens Lyft’s positioning in the emerging robotaxi market and could create long-term growth opportunities, although commercial deployment and financial benefits remain uncertain. Lyft and Baidu enter London's robotaxi battleground as testing begins
• Positive Sentiment: New board appointment adds operating experience: Alaska Air Group CEO Ben Minicucci joined Lyft’s board, bringing public-company, transportation and international operating expertise as Lyft develops its mobility and autonomous-driving strategy. Lyft Welcomes Ben Minicucci to Board of Directors
• Neutral Sentiment: Insurance transaction completed: RiverStone completed a loss portfolio transfer involving a Lyft unit. Such a deal may reduce legacy insurance exposure and improve risk management, but the articles provide no financial terms to determine the effect on earnings or cash flow. RiverStone completes LPT deal with Lyft unit
• Neutral Sentiment: Valuation rerating has not materialized: A market commentary article argues that Lyft’s earlier investment thesis has worked operationally but that investors have yet to assign the company a higher valuation, highlighting continued skepticism despite improved fundamentals. Lyft: The Trade Worked, But The Re-Rating Has Yet To Arrive
• Negative Sentiment: Legal and competitive risks remain prominent: A short seller warned that alleged sexual-assault-related claims could create multibillion-dollar liabilities, while coverage of new competitor Throo underscores pressure from rival ride-hailing platforms. These claims are allegations, but they could increase litigation costs and weigh on investor confidence. Lyft legal-liability short-seller warning
• Negative Sentiment: AI pricing practices may attract scrutiny: Consumer Reports’ review of how Uber and Lyft use AI to determine fares could raise concerns about pricing transparency, customer trust and possible regulatory oversight. Consumer Reports: How Uber and Lyft use AI to set what you pay

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LYFT. Citigroup assumed coverage on shares of Lyft in a research report on Wednesday, June 17th. They set a "buy" rating on the stock. Roth Capital reissued a "buy" rating and set a $23.00 target price on shares of Lyft in a research note on Friday, May 8th. Royal Bank Of Canada lowered their price target on shares of Lyft from $22.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price target on shares of Lyft in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group cut their price objective on Lyft from $16.00 to $15.00 and set a "hold" rating for the company in a report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.40.

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.

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