Nordea Investment Management AB Acquires 142,880 Shares of Lyft, Inc. (NASDAQ:LYFT)

Nordea Investment Management AB grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 59.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,463 shares of the ride-sharing company's stock after purchasing an additional 142,880 shares during the quarter. Nordea Investment Management AB owned approximately 0.09% of Lyft worth $5,006,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LYFT. Sanctuary Advisors LLC increased its position in Lyft by 3.5% in the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock worth $363,000 after buying an additional 969 shares during the period. XTX Topco Ltd increased its holdings in shares of Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock worth $538,000 after acquiring an additional 1,043 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company's stock worth $196,000 after acquiring an additional 1,160 shares during the period. The Manufacturers Life Insurance Company lifted its position in Lyft by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company's stock valued at $1,054,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company's stock valued at $2,612,000 after purchasing an additional 1,477 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares of the company's stock, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,242 shares of company stock worth $427,330. Insiders own 3.07% of the company's stock.

Lyft Stock Down 2.8 %

LYFT traded down $0.38 on Friday, reaching $12.98. 18,876,908 shares of the company traded hands, compared to its average volume of 17,383,453. The company has a market cap of $5.38 billion, a price-to-earnings ratio of -81.13, a PEG ratio of 4.10 and a beta of 2.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock's 50 day moving average price is $15.43 and its 200-day moving average price is $13.42. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business posted ($0.02) earnings per share. Lyft's revenue for the quarter was up 31.6% compared to the same quarter last year. On average, sell-side analysts expect that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their price target on Lyft from $10.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Raymond James assumed coverage on Lyft in a research note on Tuesday, September 24th. They set a "market perform" rating on the stock. Wedbush decreased their price target on Lyft from $20.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Jefferies Financial Group lifted their price objective on shares of Lyft from $10.50 to $13.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price objective on shares of Lyft from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.78.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.