Sheets Smith Wealth Management Purchases New Position in Uber Technologies, Inc. (NYSE:UBER)

Sheets Smith Wealth Management bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,425 shares of the ride-sharing company’s stock, valued at approximately $3,705,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Geode Capital Management LLC lifted its stake in shares of Uber Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares during the period. Edgewood Management LLC boosted its holdings in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Legal & General Group Plc grew its position in shares of Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the period. Janus Henderson Group PLC increased its stake in shares of Uber Technologies by 18.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after acquiring an additional 1,601,747 shares during the period. Institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

UBER has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wolfe Research lifted their price target on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Daiwa Capital Markets lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Finally, Wells Fargo & Company lowered their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Price Performance

Uber Technologies stock opened at $67.75 on Wednesday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a market cap of $142.66 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.72 and a beta of 1.36. The firm’s fifty day moving average is $66.16 and its 200 day moving average is $70.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Uber Technologies, Inc. will post 1.91 EPS for the current fiscal year.

Uber Technologies 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.