Truist Financial Corp Sells 7,334 Shares of Lyft, Inc. (NASDAQ:LYFT)

Truist Financial Corp decreased its holdings in Lyft, Inc. (NASDAQ:LYFTGet Rating) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,498 shares of the ride-sharing company’s stock after selling 7,334 shares during the period. Truist Financial Corp’s holdings in Lyft were worth $1,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wipfli Financial Advisors LLC bought a new stake in Lyft in the third quarter valued at approximately $26,000. Bard Financial Services Inc. raised its stake in Lyft by 40.5% in the third quarter. Bard Financial Services Inc. now owns 83,915 shares of the ride-sharing company’s stock valued at $1,105,000 after buying an additional 24,200 shares during the period. Janney Montgomery Scott LLC raised its stake in Lyft by 84.9% in the third quarter. Janney Montgomery Scott LLC now owns 108,083 shares of the ride-sharing company’s stock valued at $1,423,000 after buying an additional 49,643 shares during the period. Fifth Third Bancorp increased its stake in shares of Lyft by 567.6% during the third quarter. Fifth Third Bancorp now owns 15,648 shares of the ride-sharing company’s stock worth $206,000 after purchasing an additional 13,304 shares during the period. Finally, Granite Investment Partners LLC bought a new position in shares of Lyft during the third quarter worth approximately $2,449,000. Institutional investors own 79.44% of the company’s stock.

Lyft Trading Down 1.0 %

NASDAQ LYFT opened at $14.21 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $45.65. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -3.97 and a beta of 1.53. The business’s fifty day moving average is $11.63 and its 200 day moving average is $13.64.

Lyft (NASDAQ:LYFTGet Rating) last released its quarterly earnings data on Monday, November 7th. The ride-sharing company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.14). Lyft had a negative net margin of 32.26% and a negative return on equity of 54.39%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, sell-side analysts expect that Lyft, Inc. will post -1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LYFT. Bank of America lowered their target price on Lyft from $14.00 to $11.50 in a research note on Tuesday, November 8th. JPMorgan Chase & Co. lowered their target price on Lyft from $36.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 8th. Argus lowered their target price on Lyft from $41.00 to $17.00 in a research note on Friday, November 25th. Atlantic Securities lowered their target price on Lyft to $14.00 in a research note on Tuesday, November 15th. Finally, Susquehanna lowered their target price on Lyft from $23.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus price target of $24.65.

Lyft Profile

(Get Rating)

Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.

See Also

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFTGet Rating).

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.