Lyft, Inc. $LYFT Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Lyft, Inc. by 7.3%, bringing its total holdings to approximately 417,709 shares worth $4.96 million.
• Lyft reported a missed EPS estimate of $0.10, significantly falling short of the expected $0.27, with revenues of $1.59 billion for the quarter.
• Analysts have recently updated their price targets for Lyft, with Morgan Stanley raising its objective to $20.50, while Citigroup lowered theirs to $14.00, indicating mixed sentiments on the stock's outlook.

Rhumbline Advisers lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,709 shares of the ride-sharing company's stock after purchasing an additional 28,357 shares during the quarter. Rhumbline Advisers owned about 0.10% of Lyft worth $4,958,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Spurstone Advisory Services LLC acquired a new position in Lyft in the fourth quarter valued at about $25,000. GAMMA Investing LLC lifted its position in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Lyft in the first quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Lyft in the first quarter valued at about $35,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Lyft by 79.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock valued at $46,000 after buying an additional 1,769 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Down 3.9%

NASDAQ:LYFT traded down $0.88 during mid-day trading on Thursday, hitting $21.96. The stock had a trading volume of 25,951,031 shares, compared to its average volume of 24,820,908. The stock has a 50-day simple moving average of $15.96 and a two-hundred day simple moving average of $14.45. The company has a market capitalization of $8.93 billion, a PE ratio of 91.50, a PEG ratio of 3.57 and a beta of 2.33. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $23.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. On average, equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Activity at Lyft

In other news, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the acquisition, the chief executive officer directly owned 11,797,266 shares in the company, valued at $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider directly owned 835,782 shares in the company, valued at approximately $16,715,640. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,427 shares of company stock valued at $1,252,686 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent analyst reports. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 target price (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lyft from $16.00 to $21.00 and gave the company a "hold" rating in a research report on Thursday. Wall Street Zen cut shares of Lyft from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley increased their price target on shares of Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.30.

Lyft 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.