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

Harel Insurance Investments & Financial Services Ltd. lowered its stake in Lyft, Inc. (NASDAQ:LYFT) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,463 shares of the ride-sharing company’s stock after selling 73,706 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Lyft were worth $6,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lyft in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Lyft during the 1st quarter worth $35,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the sale, the chief financial officer directly owned 540,759 shares of the company’s stock, valued at $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 74,427 shares of company stock valued at $1,252,686. Insiders own 3.07% of the company’s stock.

Lyft Trading Up 3.6%

NASDAQ:LYFT opened at $20.46 on Friday. The company has a market capitalization of $8.32 billion, a PE ratio of 85.25, a P/E/G ratio of 3.64 and a beta of 2.40. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50. The stock’s 50 day moving average price is $19.86 and its 200 day moving average price is $16.52. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. Lyft’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on LYFT. UBS Group raised their price target on Lyft from $15.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday. Susquehanna cut their target price on Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Morgan Stanley boosted their target price on Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Bank of America upped their price target on Lyft from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Lyft from $16.00 to $21.00 and gave the company a “hold” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.68.

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.