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

Key Points

• Swedbank AB reduced its Lyft stake by 28% in the first quarter, selling 1.57 million shares and ending with 4.03 million shares valued at about $53.6 million.
• Lyft beat revenue expectations but missed on earnings in its latest quarterly report, posting $1.65 billion in revenue versus $1.63 billion expected, while EPS came in at $0.04 compared with the $0.30 consensus estimate.
• Analyst sentiment is mixed but leaning cautious: the stock currently carries a consensus rating of Hold with an average price target of $19.40, even as several firms recently issued or upgraded to Buy ratings.

Swedbank AB cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 28.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,029,600 shares of the ride-sharing company's stock after selling 1,570,400 shares during the period. Swedbank AB owned 1.01% of Lyft worth $53,594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Lyft in the fourth quarter valued at $109,987,000. Contour Asset Management LLC acquired a new stake in Lyft in the fourth quarter valued at $75,870,000. Prevatt Capital Ltd acquired a new stake in Lyft in the first quarter valued at $25,270,000. Ensign Peak Advisors Inc grew its position in shares of Lyft by 2,441.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,857,593 shares of the ride-sharing company's stock valued at $35,982,000 after acquiring an additional 1,784,494 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Lyft by 7.4% in the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company's stock valued at $567,492,000 after acquiring an additional 1,773,438 shares during the period. Institutional investors own 83.07% of the company's stock.

Lyft Price Performance

Shares of Lyft stock opened at $15.44 on Wednesday. The company has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $15.12. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 2.25, a price-to-earnings-growth 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm's quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Analysts forecast that Lyft, Inc. will post 0.69 EPS for the current year.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the firm's 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 owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the transaction, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,196 shares of company stock valued at $992,371. Company insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYFT. Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a research note on Wednesday, May 6th. Tigress Financial reiterated a "buy" rating and issued a $28.00 price objective on shares of Lyft in a report on Wednesday, June 24th. BTIG Research raised shares of Lyft from a "neutral" rating to a "buy" rating in a research report on Wednesday, June 17th. Citigroup began coverage on shares of Lyft in a research note on Wednesday, June 17th. They set a "buy" rating for the company. Finally, Oppenheimer initiated coverage on shares of Lyft in a research note on Wednesday, June 17th. They issued an "outperform" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.40.

Lyft Company 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.

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