MainStreet Investment Advisors LLC Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

MainStreet Investment Advisors LLC reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,582 shares of the ride-sharing company’s stock after selling 1,571 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Uber Technologies were worth $1,181,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Capital Research Global Investors grew its stake in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares in the last quarter. Norges Bank bought a new position in Uber Technologies in the 4th quarter worth about $1,467,754,000. Jennison Associates LLC grew its stake in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Boston Partners bought a new position in Uber Technologies in the 4th quarter worth about $381,057,000. Finally, Assenagon Asset Management S.A. grew its stake in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of research analyst reports. Wedbush downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $80.00 to $85.00 in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Uber Technologies from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. KeyCorp upped their target price on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Truist Financial upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, DA Davidson upped their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s 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 directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,904 shares of company stock worth $6,027,619 over the last three months. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of UBER opened at $91.69 on Wednesday. The company has a market cap of $191.74 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $92.17. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $75.29 and a two-hundred day moving average of $71.69.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Uber Technologies’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) earnings per share. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.