VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Lyft, Inc. $LYFT

Key Points

• Virginia Retirement Systems bought 180,900 Lyft shares in the second quarter, valued at approximately $2.64 million. Institutional investors collectively own 83.07% of the company.
• Lyft’s latest quarter produced revenue of $1.84 billion, up 16.1% year over year, though adjusted EPS of $0.13 missed analysts’ $0.14 estimate. The company reaffirmed its third-quarter 2026 guidance and appointed internal executive Michael Brous as CFO.
• Insiders have sold 97,020 shares worth about $1.63 million over the past 90 days, while analysts maintain an overall “Hold” rating with an average price target of $19.69.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 180,900 shares of the ride-sharing company's stock, valued at approximately $2,643,000.

A number of other hedge funds have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in shares of Lyft during the 4th quarter worth approximately $26,000. Plato Investment Management Ltd bought a new stake in shares of Lyft in the 2nd quarter valued at $27,000. Boreal Capital Management LLC bought a new stake in shares of Lyft in the 1st quarter valued at $31,000. Bessemer Group Inc. lifted its position in shares of Lyft by 1,851.9% during the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after acquiring an additional 2,500 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Lyft during the 4th quarter valued at $40,000. 83.07% of the stock is currently owned by institutional investors.

Trending Headlines about Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Waymo partnership expands Lyft’s autonomous-vehicle offering. Riders in Nashville can now request Waymo robotaxi rides through the Lyft app, strengthening Lyft’s role as a distribution platform for autonomous transportation and potentially supporting long-term growth. Waymo Rides Now Available on the Lyft App in Nashville
• Positive Sentiment: Lyft reaffirmed its third-quarter 2026 guidance. The company maintained its outlook for gross bookings, adjusted EBITDA and adjusted EBITDA margin, reducing concern that the recent selloff reflected weaker operating expectations. Michael Brous, an internal executive with nearly eight years at Lyft, was named the next CFO. Lyft Names New CFO, Reaffirms Q3 2026 Guidance
• Neutral Sentiment: Scotiabank upgraded Lyft to “Hold.” The change suggests a more balanced analyst view but does not represent a bullish recommendation. A technical indicator also suggested the recent pullback could be short-lived. Lyft Stock Pullback Could Be Short-Lived Says Signal
• Neutral Sentiment: Reported short interest was zero shares, but the data appears incomplete or erroneous and therefore provides little meaningful information about trading pressure.
• Negative Sentiment: The CFO change initially unsettled investors. Although the appointment is internal and guidance was reaffirmed, the transition created uncertainty around a key financial leadership role. Recent filings also show multiple insider sales, with no reported insider purchases in the past six months.
• Negative Sentiment: New allegations involving Lyft drivers could create reputational and legal risk. Reports describe an alleged abduction involving two women and a separate civil lawsuit connected to a convicted driver. The reports concern alleged driver conduct, but investors may still monitor potential liability, safety costs and effects on rider trust. Lyft Driver Accused of Abducting Two Women

Insider Activity at Lyft

In other Lyft news, CAO Stephen W. Hope sold 5,982 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.34, for a total value of $103,727.88. Following the transaction, the chief accounting officer directly owned 299,974 shares in the company, valued at $5,201,549.16. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Janey Whiteside sold 14,220 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.00, for a total transaction of $241,740.00. Following the transaction, the director directly owned 66,184 shares of the company's stock, valued at $1,125,128. This represents a 17.69% 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. Insiders have sold 97,020 shares of company stock valued at $1,630,959 in the last 90 days. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on LYFT. Bank of America upgraded shares of Lyft from an "underperform" rating to a "buy" rating in a report on Friday, August 7th. Guggenheim reissued a "buy" rating on shares of Lyft in a research report on Wednesday, June 10th. Jefferies Financial Group raised their target price on Lyft from $15.00 to $15.50 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Canaccord Genuity Group boosted their target price on Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. upped their price target on Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lyft currently has an average rating of "Hold" and an average price target of $19.69.

Lyft Stock Up 0.8%

LYFT stock opened at $15.02 on Friday. The stock's fifty day simple moving average is $16.28 and its two-hundred day simple moving average is $14.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The stock has a market cap of $5.69 billion, a P/E ratio of 2.18, a P/E/G ratio of 1.02 and a beta of 1.83.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Analysts expect that Lyft, Inc. will post 0.73 EPS for the current year.

Lyft Company Profile

Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.

In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.

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