Public Employees Retirement System of Ohio Acquires 121,142 Shares of Lyft, Inc. (NASDAQ:LYFT)

Public Employees Retirement System of Ohio increased its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 87.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,374 shares of the ride-sharing company's stock after purchasing an additional 121,142 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Lyft worth $3,320,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Lyft during the third quarter worth approximately $1,838,000. Main Management ETF Advisors LLC bought a new stake in shares of Lyft during the 3rd quarter worth $881,000. XTX Topco Ltd boosted its stake in shares of Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock worth $538,000 after acquiring an additional 1,043 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Lyft during the 3rd quarter worth $677,000. Finally, Quarry LP boosted its stake in shares of Lyft by 268.7% during the 3rd quarter. Quarry LP now owns 13,102 shares of the ride-sharing company's stock worth $167,000 after acquiring an additional 9,548 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now owns 755,847 shares in the company, valued at $13,423,842.72. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,242 shares of company stock valued at $427,330. 3.07% of the stock is owned by company insiders.

Lyft Stock Down 2.0 %

NASDAQ LYFT traded down $0.28 on Tuesday, reaching $14.01. The company had a trading volume of 8,934,780 shares, compared to its average volume of 15,061,855. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -87.56, a price-to-earnings-growth ratio of 4.47 and a beta of 2.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company's fifty day moving average is $15.39 and its 200-day moving average is $13.54.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its 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 1.58%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company's revenue for the quarter was up 31.6% compared to the same quarter last year. On average, research analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYFT. Tigress Financial raised their price objective on Lyft from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. TD Cowen raised their target price on Lyft from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $23.00 target price (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Truist Financial raised their target price on Lyft from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley raised their target price on Lyft from $16.50 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.77.

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.