Pinebridge Investments L.P. Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Pinebridge Investments L.P. trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBERFree Report) by 21.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,095 shares of the ride-sharing company’s stock after selling 5,358 shares during the quarter. Pinebridge Investments L.P.’s holdings in Uber Technologies were worth $1,176,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Highlander Capital Management LLC raised its position in shares of Uber Technologies by 100.0% in the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 250 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Uber Technologies by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 877,589 shares of the ride-sharing company’s stock worth $40,360,000 after purchasing an additional 3,530 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in shares of Uber Technologies by 73.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 33,535 shares of the ride-sharing company’s stock worth $2,065,000 after purchasing an additional 14,153 shares during the last quarter. Financial Enhancement Group LLC purchased a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $1,112,000. Finally, Fifth Third Bancorp increased its holdings in shares of Uber Technologies by 54.3% in the fourth quarter. Fifth Third Bancorp now owns 68,894 shares of the ride-sharing company’s stock valued at $4,242,000 after purchasing an additional 24,247 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tony West sold 89,234 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the transaction, the insider now directly owns 124,945 shares in the company, valued at $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 607,984 shares of company stock valued at $40,279,537 in the last ninety days. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Up 0.6 %

Shares of NYSE:UBER opened at $69.31 on Friday. Uber Technologies, Inc. has a fifty-two week low of $39.04 and a fifty-two week high of $82.14. The firm’s 50 day moving average price is $69.07 and its 200 day moving average price is $68.47. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The stock has a market cap of $144.82 billion, a price-to-earnings ratio of 111.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.37.

Uber Technologies (NYSE:UBERGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. As a group, equities research analysts predict that Uber Technologies, Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UBER has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, May 8th. Truist Financial boosted their target price on shares of Uber Technologies from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Citigroup raised their price target on shares of Uber Technologies from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company decreased their price objective on Uber Technologies from $95.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.38.

Read Our Latest Stock Analysis on Uber Technologies

About Uber Technologies

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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