Truist Financial Corp Has $367,000 Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Truist Financial Corp reduced its position in Lyft, Inc. (NASDAQ:LYFT) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,030 shares of the ride-sharing company’s stock after selling 3,989 shares during the period. Truist Financial Corp’s holdings in Lyft were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYFT. FinTrust Capital Advisors LLC increased its stake 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 valued at $26,000 after buying an additional 1,000 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft in the 4th quarter valued at $34,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the 2nd quarter valued at $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft in the 2nd quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the 1st quarter valued at $41,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYFT. Royal Bank of Canada decreased their price objective on Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Melius began coverage on Lyft in a research note on Monday, July 22nd. They set a “hold” rating and a $15.00 price objective for the company. Nomura raised Lyft from a “reduce” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. Citigroup decreased their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Wednesday, August 7th. Twenty-six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.65.

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the transaction, the insider now owns 764,332 shares in the company, valued at $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 in the last 90 days. Company insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $13.62 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of -28.98 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft, Inc. has a 1-year low of $8.85 and a 1-year high of $20.82. The business’s 50 day moving average is $11.95 and its 200-day moving average is $13.95.

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, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. Equities research analysts predict that Lyft, Inc. will post -0.09 earnings per share for the current year.

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.