Harel Insurance Investments & Financial Services Ltd. Has $78,000 Holdings in Lyft, Inc. (NASDAQ:LYFT)

Harel Insurance Investments & Financial Services Ltd. cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 34.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,195 shares of the ride-sharing company’s stock after selling 2,691 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Lyft were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LYFT. US Bancorp DE lifted its holdings in shares of Lyft by 35.0% during the first quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company’s stock worth $410,000 after buying an additional 2,768 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Lyft by 26.3% during the first quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company’s stock valued at $1,142,000 after purchasing an additional 6,200 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Lyft during the first quarter valued at approximately $731,000. Panagora Asset Management Inc. bought a new stake in shares of Lyft during the first quarter valued at approximately $206,000. Finally, APG Asset Management N.V. increased its position in shares of Lyft by 8.9% during the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company’s stock valued at $421,000 after purchasing an additional 1,000 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction dated 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 owns 633,950 shares of the company’s stock, valued at $9,521,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the transaction, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The disclosure for this sale can be found here. Insiders have sold 270,526 shares of company stock valued at $5,195,771 over the last 90 days. 3.16% of the stock is owned by company insiders.

Lyft Stock Performance

Shares of LYFT opened at $18.27 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82. The stock’s fifty day simple moving average is $17.41 and its 200-day simple moving average is $13.95.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Research analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LYFT shares. BMO Capital Markets started coverage on Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price objective on the stock. UBS Group boosted their price objective on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Truist Financial boosted their price objective on Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Royal Bank of Canada upgraded Lyft from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $17.00 to $23.00 in a research report on Monday, March 4th. Finally, Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.52.

About Lyft

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.