Lord Abbett & CO. LLC Raises Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Lord Abbett & CO. LLC boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 185.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,944,122 shares of the ride-sharing company’s stock after buying an additional 3,213,815 shares during the period. Uber Technologies makes up approximately 0.7% of Lord Abbett & CO. LLC’s portfolio, making the stock its 16th biggest position. Lord Abbett & CO. LLC owned about 0.28% of Uber Technologies worth $252,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of UBER. AXA S.A. purchased a new stake in Uber Technologies in the 3rd quarter valued at about $25,000. DB Wealth Management Group LLC purchased a new stake in Uber Technologies during the fourth quarter worth about $26,000. Truvestments Capital LLC increased its stake in Uber Technologies by 221.6% during the third quarter. Truvestments Capital LLC now owns 804 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 554 shares during the period. Glassman Wealth Services increased its stake in Uber Technologies by 93.4% during the fourth quarter. Glassman Wealth Services now owns 671 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 324 shares during the period. Finally, Lenox Wealth Advisors LLC increased its stake in Uber Technologies by 37.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 688 shares of the ride-sharing company’s stock worth $35,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

A number of analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of Uber Technologies from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 11th. Royal Bank of Canada boosted their price target on shares of Uber Technologies from $58.00 to $77.00 and gave the stock a “buy” rating in a research note on Sunday, December 13th. Needham & Company LLC boosted their price objective on Uber Technologies from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Susquehanna Bancshares boosted their price objective on Uber Technologies from $45.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 11th. Finally, KeyCorp boosted their price objective on Uber Technologies from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 9th. Four investment analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Uber Technologies presently has a consensus rating of “Buy” and a consensus target price of $60.21.

Shares of Uber Technologies stock traded down $1.16 during trading hours on Tuesday, hitting $54.15. 283,739 shares of the company were exchanged, compared to its average volume of 23,594,514. Uber Technologies, Inc. has a 1 year low of $13.71 and a 1 year high of $64.05. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average of $56.21 and a 200-day moving average of $44.75. The stock has a market capitalization of $95.51 billion, a price-to-earnings ratio of -13.90 and a beta of 1.60.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 10th. The ride-sharing company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.01). Uber Technologies had a negative return on equity of 43.27% and a negative net margin of 53.12%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the company earned ($0.64) EPS. Uber Technologies’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Uber Technologies, Inc. will post -3.86 earnings per share for the current fiscal year.

In other Uber Technologies news, insider Tony West sold 25,000 shares of the stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $50.56, for a total value of $1,264,000.00. Following the completion of the transaction, the insider now owns 234,468 shares in the company, valued at $11,854,702.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cayman 2 Ltd. Sb sold 38,000,000 shares of the stock in a transaction on Thursday, January 7th. The stock was sold at an average price of $53.46, for a total value of $2,031,480,000.00. The disclosure for this sale can be found here. Insiders have sold 38,387,756 shares of company stock valued at $2,052,603,891 in the last 90 days. Company insiders own 8.66% of the company’s stock.

Uber Technologies Profile

Uber Technologies, Inc develops and operates proprietary technology applications primarily in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services, as well as connect consumers with restaurants and food delivery service providers for meal preparation and delivery services.

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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