Uniting Wealth Partners LLC Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Uniting Wealth Partners LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,000 shares of the ride-sharing company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $1,467,754,000. Jennison Associates LLC lifted its stake in Uber Technologies by 36.9% in 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. Boston Partners bought a new stake in Uber Technologies during the 4th quarter valued at $381,057,000. Assenagon Asset Management S.A. grew its stake in 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 valued at $398,809,000 after purchasing an additional 5,753,637 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $166,072,000. 80.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on UBER. Evercore ISI decreased their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a research note on Thursday, January 2nd. KGI Securities restated a “neutral” rating and issued a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. Arete Research upgraded Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $90.31.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the sale, the insider now owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on 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 sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock worth $5,793,869 over the last quarter. Company insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of UBER opened at $74.63 on Thursday. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market capitalization of $156.11 billion, a PE ratio of 16.37, a PEG ratio of 0.89 and a beta of 1.39. The company’s 50-day moving average is $73.80 and its 200-day moving average is $71.82. 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 (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 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%. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Uber Technologies 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.