First Manhattan CO. LLC. Lowers Holdings in Uber Technologies, Inc. (NYSE:UBER)

First Manhattan CO. LLC. reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 25.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,864 shares of the ride-sharing company’s stock after selling 2,657 shares during the period. First Manhattan CO. LLC.’s holdings in Uber Technologies were worth $474,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Avion Wealth boosted its position in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Uber Technologies during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies during the 4th quarter worth $28,000. GHP Investment Advisors Inc. boosted its position in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies in the 4th quarter worth about $33,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 23,404 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,904 shares of company stock worth $6,027,619. Company insiders own 3.84% of the company’s stock.

Uber Technologies Trading Up 0.4%

Shares of UBER stock opened at $82.60 on Monday. The firm has a market cap of $172.73 billion, a P/E ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. 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 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm’s 50-day simple moving average is $74.72 and its 200-day simple moving average is $71.48.

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

Analyst Ratings Changes

UBER has been the topic of a number of research reports. Bank of America increased their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $85.00 in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Wednesday, April 16th. Barclays increased their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Evercore ISI lowered their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Company 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.