Rhumbline Advisers Grows Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Rhumbline Advisers lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 417,709 shares of the ride-sharing company's stock after acquiring an additional 28,357 shares during the period. Rhumbline Advisers owned 0.10% of Lyft worth $4,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its stake in Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock worth $316,000 after acquiring an additional 903 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after purchasing an additional 970 shares in the last quarter. US Bancorp DE grew its stake in Lyft by 2.6% during the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after acquiring an additional 1,045 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Lyft by 42.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Lyft by 13.8% in the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock worth $115,000 after buying an additional 1,080 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $14.78 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company has a market capitalization of $6.18 billion, a PE ratio of 246.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.22. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The company's fifty day moving average price is $13.92 and its 200 day moving average price is $13.61.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. On average, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the transaction, the insider now owns 959,697 shares of the company's stock, valued at $11,948,227.65. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $15.80, for a total transaction of $38,299.20. Following the transaction, the director now directly owns 879,498 shares of the company's stock, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,732 shares of company stock worth $347,159. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

LYFT has been the subject of a number of recent research reports. DA Davidson reissued a "neutral" rating and issued a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. Barclays lifted their price objective on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Oppenheimer restated an "outperform" rating and issued a $17.00 price target (up previously from $15.00) on shares of Lyft in a report on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Finally, Wall Street Zen lowered shares of Lyft from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.40.

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.

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