Handelsbanken Fonder AB Buys 14,300 Shares of Lyft, Inc. (NASDAQ:LYFT)

Handelsbanken Fonder AB increased its position in Lyft, Inc. (NASDAQ:LYFT) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,300 shares of the ride-sharing company’s stock after buying an additional 14,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Lyft were worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its stake in shares of Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after buying an additional 814 shares during the period. CWM LLC increased its stake in shares of Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after buying an additional 1,093 shares during the period. Arizona State Retirement System increased its stake in shares of Lyft by 1.4% in the third quarter. Arizona State Retirement System now owns 94,693 shares of the ride-sharing company’s stock valued at $998,000 after buying an additional 1,291 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Lyft by 5.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock valued at $336,000 after buying an additional 1,535 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Lyft by 77.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after buying an additional 1,567 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $16.37 on Monday. Lyft, Inc. has a 52 week low of $7.85 and a 52 week high of $20.82. The firm has a 50 day moving average of $17.74 and a 200-day moving average of $14.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -18.39 and a beta of 1.98.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. On average, equities analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lyft news, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the transaction, the director now directly owns 346,341 shares in the company, valued at approximately $5,434,090.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares in the company, valued at $9,521,929. The disclosure for this sale can be found here. Insiders have sold a total of 270,526 shares of company stock worth $5,195,771 in the last ninety days. Corporate insiders own 3.16% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LYFT. UBS Group upped their price objective on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Piper Sandler increased their target price on shares of Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Wells Fargo & Company increased their target price on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, April 8th. BMO Capital Markets assumed coverage on shares of Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price for the company. Finally, TD Cowen increased their target price on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.60.

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.