Garrison Point Advisors LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Garrison Point Advisors LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,470 shares of the ride-sharing company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in UBER. Norges Bank bought a new position in Uber Technologies during the 4th quarter valued at $1,467,754,000. Jennison Associates LLC lifted its position in shares of 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 valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners purchased a new position in Uber Technologies during the fourth quarter worth about $381,057,000. Assenagon Asset Management S.A. grew its position in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new stake in Uber Technologies in the 4th quarter valued at about $166,072,000. 80.24% of the stock is owned by institutional investors.

Insider Buying and Selling 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 completion of the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 over the last three months. Company insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the subject of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Truist Financial increased their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. 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 data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $64.50 on Friday. The firm has a market capitalization of $134.92 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The business’s 50-day moving average price is $73.75 and its 200-day moving average price is $71.75.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping 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%. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.