Lyft, Inc. $LYFT Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. cut its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 376,804 shares of the ride-sharing company’s stock after selling 34,541 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned 0.09% of Lyft worth $5,011,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its position in shares of Lyft by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 639 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock worth $248,000 after acquiring an additional 681 shares in the last quarter. Allegiance Financial Group Advisory Services LLC grew its position in shares of Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after acquiring an additional 756 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock valued at $3,684,000 after acquiring an additional 771 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Lyft by 34.7% in the 4th quarter. GAMMA Investing LLC now owns 3,279 shares of the ride-sharing company’s stock valued at $64,000 after purchasing an additional 845 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of Lyft stock opened at $16.23 on Thursday. The business has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $14.95. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54. The stock has a market capitalization of $6.16 billion, a P/E ratio of 2.37, a PEG ratio of 0.93 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

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

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 69,196 shares of company stock worth $992,371 in the last three months. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LYFT shares. William Blair downgraded Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Morgan Stanley upgraded Lyft from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada reduced their target price on Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Canaccord Genuity Group decreased their target price on Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Thirteen research 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 MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $19.40.

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.