Adero Partners LLC Sells 2,336 Shares of Uber Technologies, Inc. (NYSE:UBER)

Adero Partners LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.3% in the first quarter, Holdings Channel reports. The firm owned 183,365 shares of the ride-sharing company’s stock after selling 2,336 shares during the period. Uber Technologies comprises about 0.9% of Adero Partners LLC’s portfolio, making the stock its 23rd largest position. Adero Partners LLC’s holdings in Uber Technologies were worth $13,360,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UBER. Capital Research Global Investors boosted its position in shares of 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 purchasing an additional 52,125,476 shares in the last quarter. Norges Bank purchased a new position in Uber Technologies in the 4th quarter worth $1,467,754,000. Boston Partners purchased a new position in Uber Technologies in the 4th quarter worth $381,057,000. Toyota Motor Corp purchased a new position in Uber Technologies in the 4th quarter worth $309,192,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in Uber Technologies in the 4th quarter worth $298,644,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on UBER shares. The Goldman Sachs Group raised their target price on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, May 15th. Stifel Nicolaus began coverage on Uber Technologies in a research note on Wednesday, June 11th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a “buy” rating in a research note on Friday, May 23rd. Eleven research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $94.39.

Insider Activity

In other news, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the sale, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,441,071 in the last ninety days. Company insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

UBER stock opened at $83.81 on Monday. The firm has a 50 day moving average of $82.19 and a 200-day moving average of $74.00. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $93.60. 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 cap of $175.26 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.89 and a beta of 1.38.

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