Xponance Inc. Sells 10,422 Shares of Lyft, Inc. (NASDAQ:LYFT)

Xponance Inc. lessened its position in Lyft, Inc. (NASDAQ:LYFT) by 21.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,666 shares of the ride-sharing company’s stock after selling 10,422 shares during the period. Xponance Inc.’s holdings in Lyft were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC increased its holdings in shares of Lyft by 277.8% in 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 purchased a new position in Lyft in the 4th quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in Lyft in the 2nd quarter worth about $35,000. Brown Brothers Harriman & Co. bought a new position in Lyft during the 2nd quarter valued at about $35,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Lyft during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction dated Tuesday, August 27th. The stock was 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 of the company’s stock, valued at $3,843,779.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now owns 932,062 shares of the company’s stock, valued at $10,625,506.80. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 in the last three months. 3.07% of the stock is owned by insiders.

Lyft Stock Down 0.7 %

NASDAQ:LYFT opened at $12.75 on Tuesday. The company’s 50-day simple moving average is $11.58 and its 200-day simple moving average is $14.45. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. Lyft, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The stock has a market capitalization of $5.14 billion, a P/E ratio of -27.13 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm earned ($0.14) earnings per share. Lyft’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts anticipate that Lyft, Inc. will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYFT has been the topic of a number of research analyst reports. Vertical Research upgraded shares of Lyft to a “strong-buy” rating in a research report on Friday, June 7th. Canaccord Genuity Group dropped their price target on Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Wednesday, August 7th. Twenty-six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.65.

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.