Federated Hermes Inc. Buys 274,789 Shares of Lyft, Inc. (NASDAQ:LYFT)

Federated Hermes Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 1,957.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 288,827 shares of the ride-sharing company's stock after purchasing an additional 274,789 shares during the quarter. Federated Hermes Inc. owned 0.07% of Lyft worth $3,726,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft during the 4th quarter worth approximately $31,000. Byrne Asset Management LLC acquired a new stake in Lyft in the fourth quarter valued at $35,000. Plato Investment Management Ltd bought a new position in Lyft during the fourth quarter worth about $35,000. Finally, Harbour Investments Inc. increased its holdings in shares of Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company's stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock valued at $203,778 over the last three months. Company insiders own 3.07% of the company's stock.

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Lyft Stock Performance

Shares of Lyft stock traded up $0.01 during trading hours on Tuesday, hitting $10.89. 9,792,405 shares of the company's stock traded hands, compared to its average volume of 15,567,912. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 181.50, a PEG ratio of 1.90 and a beta of 2.13. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $19.07. The company has a fifty day simple moving average of $12.23 and a 200-day simple moving average of $13.69.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LYFT shares. Citigroup reissued an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. Cantor Fitzgerald lowered their price target on Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. DA Davidson dropped their price objective on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Wedbush reduced their price target on Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lowered their target price on Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.60.

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.