Truist Financial Corp Has $6.41 Million Holdings in Lyft, Inc. (NASDAQ:LYFT)


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Truist Financial Corp grew its holdings in Lyft, Inc. (NASDAQ:LYFT) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,439 shares of the ride-sharing company’s stock after purchasing an additional 30,524 shares during the period. Truist Financial Corp’s holdings in Lyft were worth $6,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LYFT. Creative Financial Designs Inc. ADV acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $34,000. Neo Ivy Capital Management bought a new position in shares of Lyft in the fourth quarter valued at $37,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Lyft in the first quarter valued at $39,000. Finally, Capital Advisory Group Advisory Services LLC bought a new position in shares of Lyft in the third quarter valued at $45,000. Institutional investors own 71.33% of the company’s stock.

LYFT stock opened at $60.96 on Thursday. The company has a market cap of $20.05 billion, a PE ratio of -11.35 and a beta of 2.35. The business has a 50-day simple moving average of $62.24 and a 200 day simple moving average of $45.50. Lyft, Inc. has a 52 week low of $21.34 and a 52 week high of $68.28. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.31.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Monday, February 8th. The ride-sharing company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.13. The business had revenue of $569.90 million during the quarter, compared to the consensus estimate of $556.70 million. Lyft had a negative return on equity of 60.70% and a negative net margin of 58.70%. On average, analysts anticipate that Lyft, Inc. will post -4.68 EPS for the current fiscal year.

Several equities analysts recently weighed in on LYFT shares. Cowen raised their target price on shares of Lyft from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, February 1st. Zacks Investment Research raised shares of Lyft from a “sell” rating to a “hold” rating and set a $51.00 target price for the company in a research note on Tuesday, January 12th. MKM Partners raised their target price on shares of Lyft from $37.00 to $58.00 in a research note on Wednesday, February 10th. Piper Sandler raised their target price on shares of Lyft from $61.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, February 10th. Finally, Susquehanna lifted their price objective on shares of Lyft from $45.00 to $80.00 and gave the stock a “positive” rating in a research report on Wednesday, February 10th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.85.

In other Lyft news, Director David Lawee sold 28,148 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $65.46, for a total transaction of $1,842,568.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Keith Roberts sold 20,000 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $64.99, for a total value of $1,299,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,663,750 shares of company stock valued at $301,701,959. 22.86% of the stock is owned by insiders.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company offers riders, personalized and on-demand access to various transportation options. It provides Ridesharing Marketplace, which enable drivers to provide their transportation services to riders.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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