Teachers Retirement System of The State of Kentucky Sells 153,576 Shares of Lyft, Inc. (NASDAQ:LYFT)

Teachers Retirement System of The State of Kentucky decreased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 512,142 shares of the ride-sharing company's stock after selling 153,576 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.12% of Lyft worth $6,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LYFT. Sanctuary Advisors LLC boosted its stake in shares of Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock valued at $363,000 after purchasing an additional 969 shares in the last quarter. Tidal Investments LLC boosted its position in Lyft by 8.2% in the third quarter. Tidal Investments LLC now owns 221,906 shares of the ride-sharing company's stock valued at $2,829,000 after buying an additional 16,911 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Lyft by 37.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 45,976 shares of the ride-sharing company's stock valued at $585,000 after buying an additional 12,462 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Lyft during the fourth quarter worth $171,000. Finally, Nordea Investment Management AB lifted its stake in shares of Lyft by 59.6% in the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company's stock valued at $5,006,000 after acquiring an additional 142,880 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Stock Down 0.2 %

LYFT stock traded down $0.03 during mid-day trading on Monday, reaching $12.18. 3,823,123 shares of the company traded hands, compared to its average volume of 15,568,137. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm's 50 day moving average price is $11.82 and its 200 day moving average price is $13.63. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 203.08, a P/E/G ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. As a group, equities research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup reiterated an "overweight" rating on shares of Lyft in a research report on Wednesday, February 12th. Oppenheimer initiated coverage on shares of Lyft in a research report on Wednesday, April 16th. They set an "outperform" rating and a $15.00 target price on the stock. Truist Financial decreased their price target on shares of Lyft from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. DA Davidson reissued a "neutral" rating and issued a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.45.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 in the last quarter. 3.07% of the stock is currently owned by corporate insiders.

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.