NewEdge Wealth LLC Sells 48,103 Shares of Uber Technologies, Inc. (NYSE:UBER)

NewEdge Wealth LLC reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 14.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 281,238 shares of the ride-sharing company’s stock after selling 48,103 shares during the period. NewEdge Wealth LLC’s holdings in Uber Technologies were worth $17,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Uber Technologies during the 4th quarter valued at approximately $580,568,000. Altimeter Capital Management LP lifted its stake in shares of Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after buying an additional 19,260,000 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Uber Technologies by 1,108.6% during the 3rd quarter. Brown Advisory Inc. now owns 15,683,867 shares of the ride-sharing company’s stock valued at $721,301,000 after buying an additional 14,386,205 shares in the last quarter. Davidson Kempner Capital Management LP lifted its stake in shares of Uber Technologies by 104.0% during the 1st quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock valued at $15,850,000 after buying an additional 13,000,000 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in shares of Uber Technologies during the 4th quarter valued at approximately $178,126,000. 80.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the sale, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the sale, the insider now directly owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Uber Technologies Trading Down 1.2 %

Shares of UBER stock traded down $0.90 on Friday, hitting $75.28. 11,582,599 shares of the company’s stock traded hands, compared to its average volume of 19,706,232. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19. Uber Technologies, Inc. has a one year low of $29.22 and a one year high of $82.14. The company’s fifty day simple moving average is $76.60 and its 200 day simple moving average is $62.37. The stock has a market capitalization of $156.69 billion, a price-to-earnings ratio of 88.56, a P/E/G ratio of 1.20 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.50. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.76 billion. Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts forecast that Uber Technologies, Inc. will post 1.2 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on UBER shares. Citigroup upped their price target on shares of Uber Technologies from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Truist Financial increased their target price on shares of Uber Technologies from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Uber Technologies from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Friday, April 5th. Finally, Susquehanna increased their target price on shares of Uber Technologies from $60.00 to $85.00 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $78.21.

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.