Harel Insurance Investments & Financial Services Ltd. Reduces Holdings in Lyft, Inc. $LYFT

Harel Insurance Investments & Financial Services Ltd. lowered its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.4% in the first quarter, Holdings Channel reports. The institutional investor owned 376,804 shares of the ride-sharing company’s stock after selling 34,541 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Lyft were worth $5,011,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LYFT. Norges Bank acquired a new position in Lyft in the fourth quarter valued at approximately $109,987,000. Swedbank AB acquired a new stake in Lyft during the fourth quarter worth $108,472,000. Contour Asset Management LLC acquired a new stake in Lyft during the fourth quarter worth $75,870,000. Principal Financial Group Inc. raised its position in Lyft by 250.0% in the first quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock valued at $56,479,000 after purchasing an additional 3,033,333 shares during the period. Finally, Prevatt Capital Ltd purchased a new stake in Lyft in the first quarter valued at $25,270,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 4.0%

Shares of NASDAQ LYFT opened at $16.23 on Thursday. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $14.95. The stock has a market capitalization of $6.16 billion, a PE ratio of 2.37, a PEG ratio of 0.93 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.01 EPS. Lyft’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities analysts forecast that Lyft, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This 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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director directly owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their position. The SEC filing for this sale provides additional information. 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. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LYFT shares. Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, June 17th. Tigress Financial restated a “buy” rating and issued a $28.00 price objective on shares of Lyft in a report on Wednesday, June 24th. DA Davidson decreased their target price on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research report on Monday, May 18th. William Blair lowered shares of Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley upgraded shares of Lyft from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 17th. Thirteen analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.