California Public Employees Retirement System Sells 4,905 Shares of Lyft, Inc. (NASDAQ:LYFT)

California Public Employees Retirement System decreased its position in Lyft, Inc. (NASDAQ:LYFT) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 499,902 shares of the ride-sharing company’s stock after selling 4,905 shares during the quarter. California Public Employees Retirement System owned 0.13% of Lyft worth $7,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LYFT. SG Americas Securities LLC increased its stake in Lyft by 11.3% in the 3rd quarter. SG Americas Securities LLC now owns 55,465 shares of the ride-sharing company’s stock worth $585,000 after purchasing an additional 5,653 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Lyft by 5.1% during the third quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock valued at $336,000 after buying an additional 1,535 shares during the period. Xponance Inc. increased its stake in shares of Lyft by 10.9% during the third quarter. Xponance Inc. now owns 49,200 shares of the ride-sharing company’s stock valued at $519,000 after buying an additional 4,821 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Lyft by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 2,459,043 shares of the ride-sharing company’s stock valued at $25,918,000 after buying an additional 27,928 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lyft by 16.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,727 shares of the ride-sharing company’s stock valued at $703,000 after buying an additional 9,663 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 2.1 %

LYFT stock opened at $17.20 on Friday. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The business’s 50-day moving average is $17.70 and its two-hundred day moving average is $14.38. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -19.33 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the sale, the president now directly owns 60,778 shares of the company’s stock, valued at $1,063,615. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the sale, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,526 shares of company stock worth $5,358,031. Company insiders own 3.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LYFT shares. Tigress Financial boosted their target price on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada raised Lyft from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $17.00 to $23.00 in a research note on Monday, March 4th. BMO Capital Markets started coverage on Lyft in a research note on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price on the stock. Truist Financial upped their price target on Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company upped their price target on Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.60.

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.