RBF Capital LLC Decreases Position in Lyft, Inc. (NASDAQ:LYFT)

RBF Capital LLC decreased its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 78.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,000 shares of the ride-sharing company’s stock after selling 110,000 shares during the period. RBF Capital LLC’s holdings in Lyft were worth $382,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LYFT. True Wealth Design LLC acquired a new position in shares of Lyft in the third quarter valued at approximately $27,000. International Assets Investment Management LLC acquired a new position in shares of Lyft in the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft in the second quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft in the third quarter valued at approximately $38,000. Finally, Quarry LP increased its holdings in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $20.00 target price (up previously from $12.00) on shares of Lyft in a report on Thursday, November 7th. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Roth Mkm upped their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial upped their price objective on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lyft currently has an average rating of “Hold” and an average price target of $17.55.

Lyft Stock Up 1.9 %

Lyft stock opened at $17.24 on Thursday. The stock has a fifty day moving average price of $14.93 and a 200 day moving average price of $13.59. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, analysts expect that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares in the company, valued at $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,909 shares of company stock worth $505,686. 3.07% of the stock is currently owned by insiders.

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.