SageView Advisory Group LLC Sells 5,281 Shares of Uber Technologies, Inc. (NYSE:UBER)

SageView Advisory Group LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER) by 43.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,838 shares of the ride-sharing company’s stock after selling 5,281 shares during the period. SageView Advisory Group LLC’s holdings in Uber Technologies were worth $412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Uber Technologies in the fourth quarter worth $1,467,754,000. Jennison Associates LLC raised its stake in Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after buying an additional 7,137,512 shares during the period. Boston Partners bought a new position in Uber Technologies during the fourth quarter worth about $381,057,000. Assenagon Asset Management S.A. grew its stake in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares during the period. Finally, Montrusco Bolton Investments Inc. bought a new stake in shares of Uber Technologies in the fourth quarter worth about $166,072,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UBER. Wells Fargo & Company lifted their price objective on Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. Citigroup cut their price target on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Evercore ISI lowered their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Finally, UBS Group reiterated a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.81.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $74.07 on Wednesday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The company’s 50 day moving average price is $74.19 and its two-hundred day moving average price is $71.44. The firm has a market cap of $154.94 billion, a PE ratio of 16.24, a PEG ratio of 0.89 and a beta of 1.37. 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 (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 over the last quarter. 3.84% of the stock is owned by corporate insiders.

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.