Envestnet Portfolio Solutions Inc. Has $15.01 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Envestnet Portfolio Solutions Inc. reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 10.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 206,034 shares of the ride-sharing company’s stock after selling 24,739 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Uber Technologies were worth $15,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after buying an additional 2,364,525 shares during the period. Capital Research Global Investors raised its holdings in Uber Technologies by 79.0% during the fourth 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. Geode Capital Management LLC raised its holdings in Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after acquiring an additional 1,061,088 shares in the last quarter. Capital World Investors raised its holdings in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after acquiring an additional 2,792,039 shares in the last quarter. Finally, Norges Bank bought a new stake in Uber Technologies during the fourth quarter worth about $1,467,754,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on UBER shares. Stifel Nicolaus started coverage on Uber Technologies in a report on Wednesday, June 11th. They set a “buy” rating and a $110.00 target price on the stock. Truist Financial upped their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Wells Fargo & Company upped their target price on Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. DA Davidson upped their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, TD Cowen dropped their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.39.

Uber Technologies Trading Down 1.6%

Shares of UBER stock opened at $83.43 on Friday. The stock’s fifty day moving average price is $83.30 and its two-hundred day moving average price is $74.30. The company has a market cap of $174.46 billion, a PE ratio of 14.61, a P/E/G ratio of 1.06 and a beta of 1.38. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. Equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider now owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now directly 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. Company insiders own 3.84% of the company’s stock.

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.