756,037 Shares in Lyft, Inc. (NASDAQ:LYFT) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT – Get Rating) in the 3rd quarter, Holdings Channel reports. The fund bought 756,037 shares of the ride-sharing company’s stock, valued at approximately $9,957,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Lyft by 17.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,292 shares of the ride-sharing company’s stock worth $662,000 after buying an additional 7,484 shares during the period. Fifth Third Bancorp boosted its holdings in Lyft by 567.6% in the 3rd quarter. Fifth Third Bancorp now owns 15,648 shares of the ride-sharing company’s stock valued at $206,000 after purchasing an additional 13,304 shares during the period. SVB Wealth LLC bought a new stake in Lyft in the 3rd quarter valued at about $161,000. Swiss National Bank boosted its holdings in Lyft by 15.3% in the 2nd quarter. Swiss National Bank now owns 1,327,100 shares of the ride-sharing company’s stock valued at $17,624,000 after purchasing an additional 176,200 shares during the period. Finally, Alphabet Inc. bought a new stake in Lyft in the 3rd quarter valued at about $80,839,000. Institutional investors own 79.44% of the company’s stock.

Insider Buying and Selling at Lyft

In other Lyft news, Director Mary Agnes Wilderotter sold 1,826 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $16.65, for a total value of $30,402.90. Following the transaction, the director now directly owns 36,904 shares of the company’s stock, valued at $614,451.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LYFT shares. Piper Sandler cut their price objective on shares of Lyft from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, February 10th. Royal Bank of Canada dropped their target price on shares of Lyft from $16.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, February 10th. Truist Financial cut shares of Lyft from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $14.00 in a research report on Friday, February 10th. Jefferies Financial Group initiated coverage on shares of Lyft in a research report on Monday, January 9th. They issued a “hold” rating and a $12.00 target price for the company. Finally, BTIG Research cut shares of Lyft from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 14th. One research analyst has rated the stock with a sell rating, twenty-eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus price target of $17.57.

Lyft Stock Up 6.8 %

Lyft stock opened at $9.60 on Friday. Lyft, Inc. has a 1-year low of $8.19 and a 1-year high of $40.46. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -2.15 and a beta of 1.75. The firm’s fifty day moving average price is $12.70 and its two-hundred day moving average price is $12.81. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.07.

Lyft Company Profile

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.