Teacher Retirement System of Texas Raises Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Teacher Retirement System of Texas boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 237.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,016 shares of the ride-sharing company’s stock after acquiring an additional 215,376 shares during the quarter. Teacher Retirement System of Texas’ holdings in Lyft were worth $3,948,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Maple Rock Capital Partners Inc. lifted its position in shares of Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Lyft by 7,536.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock valued at $23,927,000 after buying an additional 1,830,533 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Lyft by 27.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after buying an additional 1,735,208 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Lyft in the 3rd quarter worth about $13,430,000. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 over the last 90 days. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Citigroup reiterated an “overweight” rating on shares of Lyft in a report on Wednesday, February 12th. Truist Financial cut their price target on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Lyft in a research note on Monday, March 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research report on Monday. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.03.

Lyft Stock Up 2.0 %

Lyft stock opened at $12.22 on Tuesday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.40. The company has a market cap of $5.11 billion, a PE ratio of 203.67, a PEG ratio of 1.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The business’s 50-day simple moving average is $13.03 and its two-hundred day simple moving average is $13.81.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its board has initiated a stock repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Lyft Company Profile

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.