Pinnacle Associates Ltd. Decreases Stake in Lyft, Inc. $LYFT

Pinnacle Associates Ltd. cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 82.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,881 shares of the ride-sharing company’s stock after selling 264,547 shares during the period. Pinnacle Associates Ltd.’s holdings in Lyft were worth $1,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LYFT. Empowered Funds LLC lifted its stake in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares in the last quarter. Focus Partners Wealth grew its stake in Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after purchasing an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Lyft during the 2nd quarter valued at approximately $470,000. Acadian Asset Management LLC increased its holdings in Lyft by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 350,799 shares of the ride-sharing company’s stock worth $5,525,000 after purchasing an additional 27,965 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Lyft by 111.8% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 195,315 shares of the ride-sharing company’s stock valued at $3,078,000 after purchasing an additional 103,118 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LYFT shares. Truist Financial reduced their target price on Lyft from $23.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, February 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research note on Thursday, January 22nd. Barclays cut their price target on shares of Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald dropped their target price on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.63.

Lyft News Roundup

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Some EV drivers on Lyft report higher earnings as rising gasoline prices reduce participation by ICE drivers, which can raise fares/dispatch rates for remaining drivers and help EV-driver earnings and retention. EV Owners On Uber, Lyft Benefited From Rising Gas Prices As ICE Vehicle Drivers Ration Trips Amid US-Iran War: Report
• Positive Sentiment: Local promotions and public-safety voucher programs (e.g., free/reduced Lyft rides for events) are driving short-term incremental demand and goodwill in local markets. These are small but near-term supportive for trip volumes. Summit County authorities offer free or reduced Lyft rides this St. Patrick’s Day
• Neutral Sentiment: Drivers are rethinking which trips to accept amid soaring fuel costs — a mixed signal: could push fares higher (good for revenue per trip) but reduce supply/availability and customer experience. This dynamic makes near-term utilization and margins volatile. ‘Decline and recline’: Uber and Lyft drivers are rethinking what trips to accept
• Neutral Sentiment: Analysts and commentators are revisiting Lyft’s valuation amid divergent narratives — short-term trading volatility contrasts with longer-term questions about growth and profitability. This keeps the stock sensitive to headlines. A Look At Lyft (LYFT) Valuation As Market Narratives Diverge On Fair Value
• Negative Sentiment: Los Angeles World Airports approved proposed fee increases (and LAX is moving toward a possible $12 surcharge on TNC/taxi trips tied to the Automated People Mover). Airport fee hikes raise costs for riders or reduce Lyft’s margins if the company absorbs fees — a meaningful headwind given LAX’s importance as a major market. LAX board approves fee hike for companies like Uber, Lyft and others
• Negative Sentiment: A federal jury recently found Lyft liable for infringing a mobile mapping patent and ordered damages, raising legal costs and the prospect of injunctions or larger liability — an important medium-term risk to cash flow and operations if appeals or further rulings go against the company. LAX Fee Hike And Patent Ruling Reframe Lyft’s Regulatory Risk Profile

Insider Buying and Selling

In other Lyft news, Director Jill Beggs sold 2,093 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director directly owned 32,185 shares of the company’s stock, valued at $447,049.65. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 5,284 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the sale, the chief accounting officer owned 300,570 shares in the company, valued at $4,156,883.10. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,038 shares of company stock valued at $416,841. Insiders own 3.07% of the company’s stock.

Lyft Stock Up 0.5%

NASDAQ:LYFT opened at $13.31 on Thursday. The firm has a market capitalization of $5.30 billion, a PE ratio of 1.95, a price-to-earnings-growth ratio of 0.80 and a beta of 1.92. The stock has a 50 day moving average of $16.20 and a 200-day moving average of $18.89. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31.

Lyft announced that its board has authorized a share buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Lyft Company Profile

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.