Sei Investments Co. Sells 488,278 Shares of Lyft, Inc. $LYFT

Sei Investments Co. lessened its stake in Lyft, Inc. (NASDAQ:LYFT) by 33.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,312 shares of the ride-sharing company’s stock after selling 488,278 shares during the quarter. Sei Investments Co.’s holdings in Lyft were worth $12,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. Brown Brothers Harriman & Co. increased its holdings in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after buying an additional 639 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Lyft by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after buying an additional 681 shares in the last quarter. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock worth $352,000 after acquiring an additional 756 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after acquiring an additional 771 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Lyft by 1.0% during the 4th quarter. AlphaQuest LLC now owns 89,753 shares of the ride-sharing company’s stock worth $1,739,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 2.0%

Shares of Lyft stock opened at $15.86 on Friday. The firm’s 50 day moving average is $14.66 and its 200 day moving average is $14.63. The firm has a market capitalization of $6.02 billion, a PE ratio of 2.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. Lyft’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. Equities research analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYFT has been the topic of a number of recent analyst reports. DA Davidson decreased their price objective on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. BTIG Research upgraded Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. Sanford C. Bernstein initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating on the stock. Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. boosted their price target on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.43.

Insider Activity at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the transaction, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. This represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 45,535 shares of company stock worth $637,456. Corporate insiders own 0.92% of the company’s stock.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.