Cadence Bank Sells 2,535 Shares of Uber Technologies, Inc. (NYSE:UBER)

Cadence Bank reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 47.3% in the third quarter, Holdings Channel.com reports. The fund owned 2,826 shares of the ride-sharing company’s stock after selling 2,535 shares during the period. Cadence Bank’s holdings in Uber Technologies were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after acquiring an additional 3,179,308 shares during the period. Edgewood Management LLC increased its holdings in shares of Uber Technologies by 10.5% in 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 purchasing an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new position in shares of Uber Technologies in the third quarter worth $163,468,000. Samlyn Capital LLC purchased a new stake in shares of Uber Technologies in the second quarter worth $134,987,000. Finally, Ensign Peak Advisors Inc boosted its stake in Uber Technologies by 64.9% during the second quarter. Ensign Peak Advisors Inc now owns 4,633,697 shares of the ride-sharing company’s stock valued at $336,777,000 after buying an additional 1,824,162 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Citigroup boosted their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, KeyCorp lowered their price target on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Uber Technologies Stock Up 0.1 %

Shares of Uber Technologies stock opened at $71.62 on Friday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day moving average of $75.38 and a 200 day moving average of $71.20. The firm has a market cap of $150.81 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

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.