Federated Hermes Inc. Buys 363,203 Shares of Lyft, Inc. $LYFT

Federated Hermes Inc. raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 23.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,919,086 shares of the ride-sharing company’s stock after acquiring an additional 363,203 shares during the period. Federated Hermes Inc. owned about 0.46% of Lyft worth $30,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LYFT. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 purchasing an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lyft during the second quarter worth about $32,000. Bogart Wealth LLC grew its position in Lyft by 1,242.2% in 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 in the last quarter. SRH Advisors LLC bought a new stake in Lyft in the 2nd quarter worth about $62,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Lyft in the 2nd quarter valued at about $62,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Trading Down 3.2%

Shares of Lyft stock opened at $21.78 on Wednesday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 57.32, a P/E/G ratio of 2.24 and a beta of 1.99. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50-day simple moving average is $21.12 and its 200 day simple moving average is $18.03.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.Lyft’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYFT. Cantor Fitzgerald boosted their target price on Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Truist Financial boosted their price objective on Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Arete Research set a $20.00 price objective on Lyft and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Wedbush lifted their target price on Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Evercore ISI boosted their price target on shares of Lyft from $15.00 to $30.00 and gave the stock an “in-line” rating in a report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.02.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Lawee sold 6,578 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director directly owned 104,460 shares of the company’s stock, valued at $2,355,573. The trade was a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,049 shares of company stock worth $4,470,738. Company insiders own 3.07% of the company’s stock.

Lyft 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.