Rhumbline Advisers Has $5.02 Million Holdings in Lyft, Inc. (NASDAQ:LYFT)

Rhumbline Advisers lessened its position in Lyft, Inc. (NASDAQ:LYFT) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,352 shares of the ride-sharing company’s stock after selling 20,878 shares during the quarter. Rhumbline Advisers owned about 0.09% of Lyft worth $5,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYFT. True Wealth Design LLC bought a new stake in Lyft during the 3rd quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft during the 4th quarter worth about $29,000. ORG Wealth Partners LLC acquired a new position in shares of Lyft during the fourth quarter valued at about $31,000. Byrne Asset Management LLC acquired a new stake in Lyft during the fourth quarter worth about $35,000. Finally, Capital Performance Advisors LLP bought a new position in Lyft during the third quarter valued at about $38,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Susquehanna reduced their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. UBS Group reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on shares of Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, January 6th. Finally, DA Davidson cut their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.22.

Lyft Trading Up 1.6 %

NASDAQ LYFT opened at $13.02 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock’s 50-day moving average is $13.56 and its 200-day moving average is $13.68. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The firm has a market cap of $5.44 billion, a P/E ratio of 217.00, a P/E/G ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has initiated a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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.