Sfmg LLC Cuts Stake in Uber Technologies, Inc. (NYSE:UBER)

Sfmg LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,586 shares of the ride-sharing company’s stock after selling 594 shares during the quarter. Sfmg LLC’s holdings in Uber Technologies were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UBER. Jennison Associates LLC grew its position in Uber Technologies by 36.9% during the 4th 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 last quarter. Boston Partners bought a new position in shares of Uber Technologies in the fourth quarter worth approximately $381,057,000. Assenagon Asset Management S.A. increased its stake in shares of Uber Technologies by 670.6% in 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 buying an additional 5,753,637 shares during the period. Montrusco Bolton Investments Inc. bought a new stake in Uber Technologies during the 4th quarter valued at $166,072,000. Finally, Nordea Investment Management AB boosted its position in Uber Technologies by 1,370.1% during the 4th quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after buying an additional 2,064,382 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Price Performance

Shares of UBER opened at $75.94 on Friday. The company has a market capitalization of $158.65 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $72.64 and a 200 day moving average of $71.59.

Uber Technologies (NYSE:UBER) last posted its 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 net margin of 22.41% and a return on equity of 62.60%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 20,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,404 shares of company stock worth $5,587,619. 3.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

UBER has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. Truist Financial increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. KGI Securities restated a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a report on Tuesday, March 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.31.

About Uber Technologies

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.