Investment House LLC lowered its holdings in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,785 shares of the ride-sharing company’s stock after selling 41,436 shares during the period. Investment House LLC’s holdings in Uber Technologies were worth $13,383,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 192,499,602 shares of the ride-sharing company’s stock worth $15,729,142,000 after acquiring an additional 1,670,761 shares during the period. Northern Trust Corp lifted its stake in shares of Uber Technologies by 1.5% in the 3rd quarter. Northern Trust Corp now owns 19,509,042 shares of the ride-sharing company’s stock worth $1,911,301,000 after acquiring an additional 297,132 shares during the period. Capital World Investors lifted its stake in shares of Uber Technologies by 1.1% in the 3rd quarter. Capital World Investors now owns 17,016,467 shares of the ride-sharing company’s stock worth $1,667,121,000 after acquiring an additional 182,976 shares during the period. Legal & General Group Plc lifted its stake in shares of Uber Technologies by 6.9% in the 3rd quarter. Legal & General Group Plc now owns 13,386,313 shares of the ride-sharing company’s stock worth $1,311,457,000 after acquiring an additional 867,719 shares during the period. Finally, Boston Partners lifted its stake in shares of Uber Technologies by 2.9% in the 3rd quarter. Boston Partners now owns 9,422,708 shares of the ride-sharing company’s stock worth $923,919,000 after acquiring an additional 263,824 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.
Uber Technologies Stock Down 1.4%
Shares of NYSE UBER opened at $74.02 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 52 week low of $68.46 and a 52 week high of $101.99. The firm has a 50-day moving average price of $74.16 and a 200 day moving average price of $79.73. The stock has a market capitalization of $150.67 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 6.38 and a beta of 1.16.
Uber Technologies News Summary
Here are the key news stories impacting Uber Technologies this week:
- Positive Sentiment: Uber deepened its investment in Germany’s Delivery Hero to 19.5%, becoming the largest shareholder and gaining a blocking minority. Investors may view the move as a bullish sign for Uber’s global food-delivery ambitions and long-term ecosystem expansion. Uber Deepens Delivery Hero Stake As Food Delivery Shapes Valuation
- Positive Sentiment: Reports also say Uber is exploring international growth opportunities, including a reported consortium bid with Naver for South Korea’s Baemin, reinforcing expectations that the company is using capital to expand beyond ride-hailing and strengthen its delivery business. Uber, Naver team up on Baemin takeover -Seoul Economic Daily
- Neutral Sentiment: Analysts have also been highlighting Uber’s recent Q1 beat and strong Q2 gross bookings outlook, which supports the longer-term investment case, though this is more of a background tailwind than a new catalyst today. UBER vs. LYFT: Which Stock Is Better Positioned Post Q1 Results?
- Neutral Sentiment: Uber is also facing renewed legal attention in California, where a RICO case is being pushed forward with reference to a recent Pennsylvania ruling. That headline adds uncertainty, but it is not yet a clear financial hit. Uber Revs Up Calif. RICO Case, Citing Recent Ruling in Pennsylvania
Insider Activity
In related news, CFO Balaji (A) Krishnamurthy acquired 22,453 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $71.25 per share, for a total transaction of $1,599,776.25. Following the completion of the purchase, the chief financial officer directly owned 28,742 shares of the company’s stock, valued at approximately $2,047,867.50. This trade represents a 357.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $74.45, for a total transaction of $2,233,500.00. Following the completion of the sale, the senior vice president owned 460,756 shares of the company’s stock, valued at $34,303,284.20. This trade represents a 6.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.81% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have recently commented on UBER shares. Stifel Nicolaus reduced their target price on shares of Uber Technologies from $122.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. US Capital Advisors set a $95.00 target price on shares of Uber Technologies in a research note on Monday, May 11th. Mizuho reduced their target price on shares of Uber Technologies from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Citizens Jmp restated a “market outperform” rating and issued a $100.00 target price on shares of Uber Technologies in a research note on Tuesday, April 28th. Finally, Piper Sandler raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.
Read Our Latest Research Report on UBER
About Uber Technologies
Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.
Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.
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