Public Employees Retirement System of Ohio Has $2.63 Million Stake in Lyft, Inc. $LYFT

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Lyft, Inc. by 26.1%, resulting in ownership of 166,628 shares valued at approximately $2.63 million.
• Notable institutional investors, including MassMutual Private Wealth & Trust and GAMMA Investing, also adjusted their positions in Lyft, which is now primarily held by 83.07% institutional investors and hedge funds.
• Various analysts have issued reports with mixed ratings for Lyft, with ten analysts giving it a Buy rating and an average target price set at $19.02.

Public Employees Retirement System of Ohio trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 26.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,628 shares of the ride-sharing company's stock after selling 58,881 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Lyft were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Lyft during the 2nd quarter valued at about $32,000. GAMMA Investing LLC lifted its holdings in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Lyft during the 1st quarter valued at about $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Lyft during the 1st quarter valued at about $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Lyft from $16.00 to $21.00 and gave the company a "hold" rating in a report on Thursday, September 18th. Canaccord Genuity Group boosted their target price on Lyft from $11.00 to $18.00 and gave the stock a "hold" rating in a report on Thursday, September 18th. Wall Street Zen lowered Lyft from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Morgan Stanley boosted their target price on Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Finally, Wells Fargo & Company boosted their target price on Lyft from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.02.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $21.82 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The business's 50 day moving average is $17.28 and its two-hundred day moving average is $15.09. The company has a market cap of $8.87 billion, a P/E ratio of 90.92, a P/E/G ratio of 3.44 and a beta of 2.40. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $23.50.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Lyft news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares of the company's stock, valued at $8,241,167.16. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John David Risher acquired 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the transaction, the chief executive officer owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. This trade represents a 0.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 74,427 shares of company stock valued at $1,252,686 in the last three months. Company insiders own 3.07% of the company's stock.

Lyft Company 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.

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