Rhumbline Advisers Purchases 9,216 Shares of Lyft, Inc. (NASDAQ:LYFT)

Rhumbline Advisers lifted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 418,936 shares of the ride-sharing company’s stock after purchasing an additional 9,216 shares during the quarter. Rhumbline Advisers owned about 0.10% of Lyft worth $5,907,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC increased its holdings in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Lyft during the 4th quarter worth approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the second quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Lyft in the fourth quarter worth $40,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Lyft during the first quarter worth $41,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI decreased their target price on shares of Lyft from $18.00 to $17.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Vertical Research upgraded shares of Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Cantor Fitzgerald started coverage on shares of Lyft in a report on Thursday, September 5th. They issued a “neutral” rating and a $13.00 target price on the stock. Twenty-six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.65.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,323 shares of the 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 transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,497 shares of company stock worth $392,157. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Performance

NASDAQ:LYFT opened at $11.35 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of -24.15 and a beta of 2.04. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $14.83.

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, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same period last year, the business posted ($0.14) EPS. Research analysts anticipate that Lyft, Inc. will post -0.16 earnings per share for the current year.

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.