Teacher Retirement System of Texas Cuts Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Teacher Retirement System of Texas lowered its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 40.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 180,863 shares of the ride-sharing company's stock after selling 125,153 shares during the quarter. Teacher Retirement System of Texas' holdings in Lyft were worth $2,147,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LYFT. Amalgamated Bank raised its stake in shares of Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock valued at $277,000 after acquiring an additional 892 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after purchasing an additional 914 shares in the last quarter. Guggenheim Capital LLC boosted its position in Lyft by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after acquiring an additional 970 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after acquiring an additional 1,058 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lyft by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock worth $1,081,000 after acquiring an additional 1,132 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider directly owned 959,697 shares of the company's stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the transaction, the director owned 879,498 shares of the company's stock, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen upgraded Lyft from a "hold" rating to a "buy" rating and lifted their price target for the company from $16.00 to $21.00 in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their target price on shares of Lyft from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Monday. Citigroup reaffirmed a "hold" rating and issued a $14.00 target price (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. UBS Group upped their price objective on shares of Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, DA Davidson reiterated a "neutral" rating and set a $15.00 target price on shares of Lyft in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lyft currently has a consensus rating of "Hold" and a consensus price target of $16.78.

Lyft Stock Performance

Shares of LYFT stock traded down $0.41 on Friday, reaching $14.91. The stock had a trading volume of 10,825,164 shares, compared to its average volume of 16,283,767. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The stock has a market cap of $6.23 billion, a P/E ratio of 99.40, a price-to-earnings-growth ratio of 3.07 and a beta of 2.20. The company has a 50 day simple moving average of $15.49 and a 200 day simple moving average of $13.62.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the business posted $0.15 earnings per share. The company's revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

About Lyft

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.