Nordea Investment Management AB Has $5.01 Million Stake in Lyft, Inc. (NASDAQ:LYFT)

Nordea Investment Management AB raised its position in Lyft, Inc. (NASDAQ:LYFT) by 59.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 382,463 shares of the ride-sharing company’s stock after purchasing an additional 142,880 shares during the period. Nordea Investment Management AB owned 0.09% of Lyft worth $5,006,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYFT. Pacer Advisors Inc. acquired a new position in shares of Lyft in the 3rd quarter worth approximately $90,604,000. Maple Rock Capital Partners Inc. lifted its position in shares of Lyft by 84.8% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after acquiring an additional 2,838,000 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after acquiring an additional 1,735,208 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Lyft during the 3rd quarter valued at $13,430,000. Finally, Huber Capital Management LLC lifted its position in shares of Lyft by 62.1% during the 2nd quarter. Huber Capital Management LLC now owns 631,189 shares of the ride-sharing company’s stock valued at $8,900,000 after acquiring an additional 241,814 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now directly owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock valued at $427,330 over the last three months. 3.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LYFT has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Tigress Financial boosted their target price on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets boosted their price target on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus target price of $17.78.

Lyft Price Performance

NASDAQ LYFT opened at $12.98 on Friday. The company has a market cap of $5.38 billion, a PE ratio of -81.13, a price-to-earnings-growth ratio of 4.10 and a beta of 2.14. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $15.43 and its two-hundred day simple moving average is $13.42.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. Research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Lyft Company Profile

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.