Oregon Public Employees Retirement Fund Makes New Investment in Lyft, Inc. $LYFT

Key Points

• Oregon Public Employees Retirement Fund initiated a new position in Lyft during the first quarter, buying 91,000 shares worth about $1.21 million.
• Lyft’s latest quarterly results showed revenue growth of 17.2% year over year to $1.65 billion, but EPS missed analyst expectations, coming in at $0.04 versus a $0.30 estimate.
• Wall Street remains cautious overall: analysts currently rate Lyft a “Hold” on consensus, with a median target price of $19.40, while insiders recently sold shares and hedge funds own 83.07% of the company.

Oregon Public Employees Retirement Fund purchased a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 91,000 shares of the ride-sharing company's stock, valued at approximately $1,210,000.

A number of other large investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. lifted its stake in shares of Lyft by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company's stock worth $75,000 after purchasing an additional 639 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Lyft by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company's stock valued at $248,000 after purchasing an additional 681 shares during the period. Allegiance Financial Group Advisory Services LLC grew its position in shares of Lyft by 4.3% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company's stock valued at $352,000 after purchasing an additional 756 shares during the period. Public Employees Retirement System of Ohio increased its stake in Lyft by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company's stock valued at $3,684,000 after purchasing an additional 771 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Lyft by 34.7% in the fourth quarter. GAMMA Investing LLC now owns 3,279 shares of the ride-sharing company's stock valued at $64,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Lyft stock opened at $15.67 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 12 month low of $12.46 and a 12 month high of $25.54. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 2.29, a price-to-earnings-growth ratio of 0.93 and a beta of 1.80. The stock's 50-day moving average is $14.21 and its 200-day moving average is $15.01.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.01 EPS. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the 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 owned 853,731 shares of the company's stock, valued at $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 completion of the sale, the chief financial officer directly owned 705,979 shares of the company's stock, valued at $9,594,254.61. The trade was a 2.08% decrease in their position. 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 have sold 69,196 shares of company stock valued at $992,371 in the last ninety days. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYFT. Roth Capital reissued a "buy" rating and issued a $23.00 price target on shares of Lyft in a research note on Friday, May 8th. Royal Bank Of Canada dropped their price objective on shares of Lyft from $22.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. William Blair lowered shares of Lyft to a "market perform" rating in a report on Wednesday, June 17th. Oppenheimer began coverage on shares of Lyft in a research report on Wednesday, June 17th. They issued an "outperform" rating on the stock. Finally, Sanford C. Bernstein began coverage on shares of Lyft in a report on Wednesday, June 17th. They issued an "underperform" rating for the company. Thirteen research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Lyft has a consensus rating of "Hold" and a consensus target price of $19.40.

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.

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