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

Teacher Retirement System of Texas grew its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 237.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,016 shares of the ride-sharing company's stock after purchasing an additional 215,376 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Lyft worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYFT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Lyft by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock valued at $230,174,000 after buying an additional 80,675 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock worth $103,456,000 after acquiring an additional 1,735,208 shares during the period. Maple Rock Capital Partners Inc. grew 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lyft by 33.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock valued at $50,031,000 after purchasing an additional 981,186 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Logan Green sold 11,411 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now 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. In the last quarter, insiders sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is currently owned by corporate insiders.

Lyft Trading Down 4.7 %

NASDAQ:LYFT traded down $0.57 during midday trading on Friday, hitting $11.57. The stock had a trading volume of 14,172,272 shares, compared to its average volume of 15,288,551. The stock has a 50-day moving average of $12.97 and a 200 day moving average of $13.80. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 192.83, a PEG ratio of 1.90 and a beta of 2.15. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.69. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. As a group, sell-side analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Piper Sandler reaffirmed an "overweight" rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Barclays decreased their price target on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. KeyCorp restated a "sector weight" rating on shares of Lyft in a research report on Wednesday. Finally, Loop Capital decreased their target price on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $17.03.

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.