Strs Ohio Buys 430,888 Shares of Lyft, Inc. $LYFT

Key Points

• Strs Ohio raised its stake in Lyft by 4,527.6% in Q4, buying an additional 430,888 shares to hold 440,405 shares (about 0.11% of the company) valued at roughly $8.53 million.
• Lyft's Board approved a $1.0 billion stock repurchase program authorizing buybacks of up to 15.1% of shares, a move often interpreted as management signaling the stock may be undervalued.
• Analyst coverage is mixed but leans neutral: the consensus rating is Hold with a consensus target price of $19.55, following several recent price-target reductions into the mid-teens.

Strs Ohio raised its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 4,527.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 440,405 shares of the ride-sharing company's stock after acquiring an additional 430,888 shares during the quarter. Strs Ohio owned approximately 0.11% of Lyft worth $8,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of Lyft in the third quarter worth about $34,000. Abich Financial Wealth Management LLC acquired a new position in shares of Lyft in the third quarter valued at approximately $50,000. Tower Research Capital LLC TRC increased its stake in shares of Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company's stock valued at $51,000 after buying an additional 2,587 shares during the period. CI Investments Inc. increased its stake in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company's stock valued at $51,000 after buying an additional 653 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of Lyft in the third quarter valued at approximately $54,000. Institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Susquehanna reaffirmed a "neutral" rating and issued a $15.00 price objective on shares of Lyft in a research note on Thursday, February 12th. Morgan Stanley set a $17.00 price objective on Lyft in a research note on Wednesday, February 11th. Piper Sandler reaffirmed an "overweight" rating on shares of Lyft in a research note on Wednesday, February 11th. Wells Fargo & Company lowered their price objective on Lyft from $26.00 to $18.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 11th. Finally, Mizuho lowered their price objective on Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $19.55.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Stephen W. Hope sold 5,284 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the sale, the chief accounting officer owned 300,570 shares of the company's stock, valued at approximately $4,156,883.10. This represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jill Beggs sold 2,093 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.89, for a total transaction of $29,071.77. Following the sale, the director directly owned 32,185 shares of the company's stock, valued at $447,049.65. This represents a 6.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,699 shares of company stock valued at $771,756. 0.92% of the stock is currently owned by company insiders.

Lyft Stock Performance

NASDAQ:LYFT opened at $14.06 on Tuesday. The company has a market capitalization of $5.60 billion, a PE ratio of 2.06, a P/E/G ratio of 0.88 and a beta of 1.84. The company has a 50 day simple moving average of $13.66 and a two-hundred day simple moving average of $17.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 0.65. Lyft, Inc. has a fifty-two week low of $12.31 and a fifty-two week high of $25.54.

Lyft announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the ride-sharing company to buy up to 15.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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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