Swedbank AB Makes New Investment in Lyft, Inc. $LYFT

Key Points

• Swedbank AB disclosed a new fourth-quarter position in Lyft, buying 5.6 million shares worth about $108.5 million, or roughly 1.4% of the company.
• Lyft insiders have been selling shares recently, including sales by Lindsay Catherine Llewellyn and Jill Beggs; over the last three months, insiders sold 54,699 shares total.
• Lyft is up about 3.1% and has announced a $1 billion stock buyback, but its latest earnings missed profit expectations even though revenue came in slightly above forecasts.

Swedbank AB purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,600,000 shares of the ride-sharing company's stock, valued at approximately $108,472,000. Swedbank AB owned about 1.40% of Lyft as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at $40,000. Abich Financial Wealth Management LLC bought a new stake in shares of Lyft in the 3rd quarter valued at $50,000. CI Investments Inc. increased its stake in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company's stock valued at $51,000 after acquiring an additional 653 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Lyft by 410.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company's stock valued at $51,000 after acquiring an additional 2,587 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in shares of Lyft in the 3rd quarter valued at $54,000. Institutional investors own 83.07% of the company's stock.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $13.30, for a total value of $314,691.30. Following the transaction, the insider directly owned 696,850 shares of the company's stock, valued at approximately $9,268,105. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jill Beggs sold 2,093 shares of the firm's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.89, for a total transaction of $29,071.77. Following the completion of the transaction, the director directly owned 32,185 shares in the company, valued at $447,049.65. This trade represents a 6.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,699 shares of company stock valued at $771,756. Corporate insiders own 0.92% of the company's stock.

Lyft Stock Up 3.1%

Lyft stock opened at $13.90 on Friday. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 2.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.84. The firm's fifty day moving average price is $13.70 and its two-hundred day moving average price is $16.74. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $0.01 earnings per share. The firm's quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Lyft, Inc. will post 0.66 earnings per share for the current fiscal year.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

LYFT has been the subject of several research analyst reports. Evercore set a $21.00 price objective on shares of Lyft in a research note on Wednesday, February 11th. Cantor Fitzgerald lowered their price objective on shares of Lyft from $21.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 11th. TD Cowen reiterated a "buy" rating on shares of Lyft in a research note on Wednesday, February 11th. Susquehanna reiterated a "neutral" rating and issued a $15.00 price objective on shares of Lyft in a research note on Thursday, February 12th. Finally, Zacks Research upgraded shares of Lyft from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of "Hold" and an average price target of $18.83.

Trending Headlines about Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Zacks Research upgraded Lyft from “strong sell” to “hold,” suggesting improving analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Valuation-focused coverage highlighted Lyft as still undervalued, with articles pointing to a low share price relative to fundamentals and a favorable GF Score, which can attract value-oriented investors. GuruFocus article
• Neutral Sentiment: Consumer testing content comparing Uber and Lyft may influence rider perception, but it does not appear to be a direct business or financial catalyst for the stock. MSN article
• Neutral Sentiment: Several news items about a Lyft driver allegedly using AI-generated damage photos could raise reputational concerns, but the incident appears isolated and its financial impact is unclear. ABC7 Chicago article

About Lyft

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.