Swedbank AB Has $53.59 Million Stock Holdings in Lyft, Inc. $LYFT

Swedbank AB lowered its stake in Lyft, Inc. (NASDAQ:LYFT) by 28.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,029,600 shares of the ride-sharing company’s stock after selling 1,570,400 shares during the period. Swedbank AB’s holdings in Lyft were worth $53,594,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LYFT. University of Texas Texas AM Investment Management Co. bought a new position in shares of Lyft in the 4th quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the fourth quarter valued at about $40,000. Huntington National Bank boosted its stake in shares of Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares in the last quarter. Ascentis Independent Advisors bought a new stake in shares of Lyft during the first quarter worth about $43,000. Finally, CI Investments Inc. increased its stake in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 653 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, May 8th. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th. Citigroup assumed coverage on shares of Lyft in a report on Wednesday, June 17th. They set a “buy” rating on the stock. Guggenheim reissued a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Finally, Roth Capital restated a “buy” rating and issued a $23.00 price objective on shares of Lyft in a report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.40.

Lyft Stock Up 0.3%

Lyft stock opened at $15.44 on Wednesday. The firm’s fifty day moving average is $14.11 and its 200 day moving average is $15.12. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54. The company has a market capitalization of $5.86 billion, a PE ratio of 2.25, a PEG ratio of 0.91 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, sell-side analysts predict that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Insider Transactions at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director owned 30,092 shares of the company’s stock, valued at $414,065.92. This trade represents a 6.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,196 shares of company stock valued at $992,371 over the last ninety days. Company insiders own 0.92% of the company’s stock.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.