Rhumbline Advisers Grows Stock Position in Lyft, Inc. $LYFT

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 stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

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

Lyft Stock Up 1.6%

Lyft stock opened at $18.62 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 77.59, a price-to-earnings-growth ratio of 2.87 and a beta of 2.33. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $19.35. The stock's fifty day moving average is $15.52 and its two-hundred day moving average is $14.23.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The company had revenue of $1.59 billion for 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYFT. Morgan Stanley upped their price objective on Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a report on Thursday. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and upped their price objective for the stock from $16.00 to $21.00 in a report on Tuesday, June 24th. Citigroup reaffirmed a "hold" rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Roth Capital raised Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Thursday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.07.

Insider Activity at Lyft

In related news, CEO John David Risher acquired 5,926 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer directly owned 525,759 shares in the company, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,821 shares of company stock valued at $960,566 over the last quarter. Insiders own 3.07% of the company's stock.

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.

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