CIBC Private Wealth Group LLC Lowers Stock Position in Uber Technologies, Inc. (NYSE:UBER)

CIBC Private Wealth Group LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,034 shares of the ride-sharing company’s stock after selling 7,062 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Uber Technologies were worth $2,599,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Avion Wealth increased its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new position in Uber Technologies during the 4th quarter valued at approximately $28,000. GHP Investment Advisors Inc. raised its stake in Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Uber Technologies in the fourth quarter worth $33,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Uber Technologies during the fourth quarter valued at $35,000. 80.24% of the stock is currently owned by institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Evercore ISI cut their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Fox Advisors cut Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $74.63 on Thursday. The stock has a market cap of $156.11 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The firm has a fifty day moving average price of $73.80 and a 200-day moving average price of $71.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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 analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

About Uber Technologies

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.