Federated Hermes Inc. Has $15.43 Million Stake in Lyft, Inc. $LYFT

Federated Hermes Inc. reduced its holdings in Lyft, Inc. (NASDAQ:LYFT) by 63.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 701,242 shares of the ride-sharing company’s stock after selling 1,217,844 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Lyft worth $15,434,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Joule Financial LLC bought a new stake in shares of Lyft in the second quarter worth about $760,000. KLP Kapitalforvaltning AS grew its position in shares of Lyft by 42.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 110,400 shares of the ride-sharing company’s stock valued at $1,740,000 after purchasing an additional 33,000 shares during the period. Nierenberg Investment Management Company Inc. bought a new stake in Lyft during the 2nd quarter worth approximately $671,000. Savant Capital LLC raised its holdings in Lyft by 78.1% during the 2nd quarter. Savant Capital LLC now owns 427,813 shares of the ride-sharing company’s stock worth $6,742,000 after buying an additional 187,625 shares during the period. Finally, CWM LLC lifted its stake in Lyft by 52.1% in the third quarter. CWM LLC now owns 819,677 shares of the ride-sharing company’s stock valued at $18,041,000 after buying an additional 280,886 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Lawee sold 6,578 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the transaction, the director directly owned 104,460 shares in the company, valued at $2,355,573. The trade was a 5.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Prashant Aggarwal sold 96,900 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $2,160,870.00. Following the completion of the sale, the director owned 874,369 shares of the company’s stock, valued at $19,498,428.70. This trade represents a 9.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 187,443 shares of company stock valued at $4,178,618 in the last ninety days. 3.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research reports. UBS Group increased their price objective on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Oppenheimer set a $26.00 target price on Lyft and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company lifted their price target on Lyft from $20.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th. Wedbush cut Lyft from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $20.00 to $16.00 in a research report on Friday, December 19th. Finally, Roth Mkm set a $25.00 price objective on Lyft and gave the stock a “buy” rating in a report on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $22.76.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $16.87 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $19.62 and a 200-day moving average of $18.96. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.11 and a beta of 1.94. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54.

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

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.