State of New Jersey Common Pension Fund D Has $2.04 Million Stake in Lyft, Inc. (NASDAQ:LYFT)

State of New Jersey Common Pension Fund D reduced its stake in Lyft, Inc. (NASDAQ:LYFT) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 144,650 shares of the ride-sharing company’s stock after selling 69,253 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lyft were worth $2,040,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LYFT. Private Advisor Group LLC boosted its holdings in shares of Lyft by 19.9% during the 4th quarter. Private Advisor Group LLC now owns 14,476 shares of the ride-sharing company’s stock worth $217,000 after buying an additional 2,403 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in Lyft during the fourth quarter valued at about $175,000. Janney Montgomery Scott LLC acquired a new stake in shares of Lyft in the fourth quarter valued at about $796,000. Beacon Pointe Advisors LLC bought a new position in shares of Lyft in the fourth quarter worth about $292,000. Finally, Norges Bank acquired a new position in shares of Lyft during the 4th quarter worth about $94,687,000. Institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lyft news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction 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 sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. The disclosure for this sale can be found here. Insiders sold a total of 39,164 shares of company stock worth $470,513 over the last 90 days. 3.07% of the stock is owned by insiders.

Lyft Stock Down 0.5 %

Shares of NASDAQ:LYFT opened at $12.47 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a market cap of $5.03 billion, a P/E ratio of -26.53 and a beta of 2.04. Lyft, Inc. has a 12 month low of $8.85 and a 12 month high of $20.82. The company’s 50-day moving average price is $11.54 and its two-hundred day moving average price is $14.70.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted ($0.14) earnings per share. Lyft’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, research analysts forecast that Lyft, Inc. will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wolfe Research initiated coverage on Lyft in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their price target on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, August 8th. TD Cowen dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Susquehanna reduced their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Twenty-six research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.65.

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.