Evolution Wealth Advisors LLC Reduces Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Evolution Wealth Advisors LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 8,881 shares of the ride-sharing company’s stock after selling 329 shares during the period. Evolution Wealth Advisors LLC’s holdings in Uber Technologies were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 1.7% during the third quarter. Vanguard Group Inc. now owns 124,353,537 shares of the ride-sharing company’s stock worth $5,719,019,000 after acquiring an additional 2,067,098 shares in the last quarter. Altimeter Capital Management LP increased its holdings in shares of Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after purchasing an additional 19,260,000 shares during the period. Norges Bank bought a new position in shares of Uber Technologies in the fourth quarter worth $580,568,000. Capital World Investors increased its holdings in shares of Uber Technologies by 18.5% in the first quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock worth $787,480,000 after purchasing an additional 3,443,554 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Uber Technologies by 3.1% in the first quarter. Geode Capital Management LLC now owns 20,585,066 shares of the ride-sharing company’s stock worth $651,575,000 after purchasing an additional 615,942 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $85.00 price target on shares of Uber Technologies in a report on Thursday, March 28th. Roth Mkm upped their price target on shares of Uber Technologies from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Moffett Nathanson reissued a “buy” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Thursday, April 11th. BMO Capital Markets increased their target price on Uber Technologies from $82.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.94.

Uber Technologies Stock Down 2.9 %

UBER traded down $2.08 on Friday, hitting $69.22. The company had a trading volume of 23,174,722 shares, compared to its average volume of 19,588,287. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 1.19. Uber Technologies, Inc. has a 52-week low of $29.22 and a 52-week high of $82.14. The stock has a fifty day simple moving average of $76.92 and a 200-day simple moving average of $63.34. The firm has a market capitalization of $144.07 billion, a P/E ratio of 80.59, a P/E/G ratio of 1.14 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.16 by $0.50. Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same period last year, the business posted $0.29 earnings per share. Uber Technologies’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts expect that Uber Technologies, Inc. will post 1.22 EPS for the current fiscal year.

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.