New York State Teachers Retirement System Purchases Shares of 33,204 Lyft, Inc. (NASDAQ:LYFT)

New York State Teachers Retirement System acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,204 shares of the ride-sharing company's stock, valued at approximately $423,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Lyft in the first quarter worth $41,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the second quarter worth $35,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the second quarter worth $35,000. Quarry LP raised its holdings in shares of Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company's stock worth $50,000 after acquiring an additional 3,468 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Lyft by 430.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company's stock worth $75,000 after acquiring an additional 3,154 shares during the period. 83.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on LYFT. Raymond James began coverage on shares of Lyft in a report on Tuesday, September 24th. They set a "market perform" rating on the stock. Susquehanna boosted their price target on shares of Lyft from $10.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research report on Thursday. Wells Fargo & Company reissued a "market perform" rating on shares of Lyft in a research report on Friday, October 18th. Finally, Nomura Securities raised shares of Lyft from a "strong sell" rating to a "hold" rating in a research report on Friday, August 23rd. Twenty-eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned 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 price target of $17.48.

Lyft Stock Performance

Shares of NASDAQ:LYFT traded up $0.81 on Monday, reaching $18.59. 22,067,089 shares of the company's stock were exchanged, compared to its average volume of 15,153,908. The company has a fifty day moving average of $12.96 and a 200-day moving average of $13.49. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -116.25 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm posted ($0.02) EPS. The firm's quarterly revenue was up 31.6% on a year-over-year basis. On average, research analysts predict that Lyft, Inc. will post -0.06 EPS for the current fiscal year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 7,188 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares of the company's stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares of the company's stock, valued at $10,625,506.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Logan Green sold 10,323 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company's stock, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,664 shares of company stock valued at $380,048. Company insiders own 3.07% of the company's stock.

Lyft 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.