California Public Employees Retirement System trimmed its stake in shares of Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,885 shares of the ride-sharing company’s stock after selling 28,990 shares during the quarter. California Public Employees Retirement System’s holdings in Lyft were worth $6,373,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Lyft by 1.9% during the first quarter. Vanguard Group Inc. now owns 25,428,704 shares of the ride-sharing company’s stock valued at $976,462,000 after purchasing an additional 483,630 shares in the last quarter. Clearbridge Investments LLC raised its position in Lyft by 46.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock valued at $248,485,000 after purchasing an additional 2,050,430 shares during the last quarter. American Century Companies Inc. boosted its stake in Lyft by 25.9% in the first quarter. American Century Companies Inc. now owns 6,068,020 shares of the ride-sharing company’s stock worth $233,012,000 after purchasing an additional 1,249,383 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Lyft during the second quarter worth $34,868,000. Finally, Northern Trust Corp increased its stake in shares of Lyft by 0.9% in the first quarter. Northern Trust Corp now owns 1,751,907 shares of the ride-sharing company’s stock valued at $67,273,000 after buying an additional 16,008 shares in the last quarter. 76.49% of the stock is owned by institutional investors and hedge funds.
Lyft Trading Up 2.4 %
LYFT opened at $11.31 on Friday. The stock has a market capitalization of $4.08 billion, a P/E ratio of -3.16 and a beta of 1.68. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. Lyft, Inc. has a 12 month low of $10.43 and a 12 month high of $46.64. The firm’s fifty day simple moving average is $13.39 and its 200 day simple moving average is $15.11.
Analyst Ratings Changes
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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