Edgewood Management LLC Sells 27,451,360 Shares of Uber Technologies, Inc. (NYSE:UBER)

Edgewood Management LLC lowered its position in Uber Technologies, Inc. (NYSE:UBER) by 99.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,700 shares of the ride-sharing company’s stock after selling 27,451,360 shares during the period. Edgewood Management LLC’s holdings in Uber Technologies were worth $6,074,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avion Wealth raised its stake in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in Uber Technologies during the 4th quarter worth about $28,000. GHP Investment Advisors Inc. raised its position in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring 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 about $35,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Uber Technologies during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. KGI Securities reissued a “neutral” rating and issued a $78.00 price target on shares of Uber Technologies in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.41.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares in the company, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were 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 owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % 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 worth $5,793,869 in the last quarter. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Down 7.7 %

UBER stock opened at $64.50 on Friday. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The stock has a market cap of $134.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. The stock’s fifty day simple moving average is $73.75 and its two-hundred day simple moving average is $71.75. The company has a current ratio of 1.07, a quick ratio of 1.41 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 for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Analysts expect 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.