Objectivity Squared LLC Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Objectivity Squared LLC trimmed its position in Uber Technologies, Inc. (NYSE:UBER) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,052 shares of the ride-sharing company’s stock after selling 400 shares during the period. Uber Technologies comprises 2.2% of Objectivity Squared LLC’s portfolio, making the stock its 11th biggest holding. Objectivity Squared LLC’s holdings in Uber Technologies were worth $2,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UBER. Capital Research Global Investors lifted its position in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the last quarter. Norges Bank purchased a new position in shares of Uber Technologies in the fourth quarter worth about $1,467,754,000. Boston Partners purchased a new stake in Uber Technologies in the 4th quarter valued at $381,057,000. Toyota Motor Corp purchased a new stake in shares of Uber Technologies during the 4th quarter valued at approximately $309,192,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $298,644,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UBER. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a report on Monday, May 5th. Piper Sandler reissued an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Truist Financial boosted their price target on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. UBS Group lifted their price target on shares of Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, TD Cowen reduced their price target on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Twelve analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $93.91.

Uber Technologies Trading Up 1.1%

UBER stock opened at $85.60 on Monday. The business has a fifty day simple moving average of $80.38 and a 200-day simple moving average of $73.51. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60. The company has a market cap of $179.00 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.89 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm posted ($0.32) EPS. Uber Technologies’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. This represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,788 shares of company stock worth $6,517,070 over the last ninety days. Corporate insiders own 3.84% of the company’s stock.

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.