Sherman Asset Management Inc. Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Sherman Asset Management Inc. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,232 shares of the ride-sharing company’s stock, valued at approximately $135,000.

A number of other hedge funds and other institutional investors have also modified their holdings of UBER. Jennison Associates LLC grew its holdings in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Assenagon Asset Management S.A. grew its holdings in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in Uber Technologies during the fourth quarter worth about $166,072,000. Edgewood Management LLC grew its holdings in Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Uber Technologies by 1,370.1% during the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock worth $134,144,000 after acquiring an additional 2,064,382 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UBER has been the topic of a number of research analyst reports. DA Davidson lowered their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Wells Fargo & Company lowered their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Loop Capital lifted their price target on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.94.

Uber Technologies Stock Up 2.5 %

Shares of Uber Technologies stock opened at $76.07 on Friday. The firm has a market cap of $158.90 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The stock has a 50-day simple moving average of $69.53 and a 200-day simple moving average of $71.54.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.84% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.