Legal & General Group Plc Trims Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Legal & General Group Plc cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,699,977 shares of the ride-sharing company’s stock after selling 3,311,602 shares during the quarter. Legal & General Group Plc’s holdings in Uber Technologies were worth $705,743,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % 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 worth $5,793,869. 3.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UBER has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. DA Davidson cut their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Finally, Truist Financial lifted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.41.

Uber Technologies Price Performance

UBER stock opened at $64.50 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $134.92 billion, a PE ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. The business’s fifty day moving average price is $73.75 and its 200 day moving average price is $71.74. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current 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.