Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 29.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 730 shares of the ride-sharing company’s stock after selling 305 shares during the period. Meeder Asset Management Inc.’s holdings in Uber Technologies were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in UBER. 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 purchasing an additional 52,125,476 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 purchasing an additional 2,792,039 shares in the last quarter. Northern Trust Corp raised its holdings in Uber Technologies by 9.0% during the fourth quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company’s stock worth $1,117,158,000 after purchasing an additional 1,528,168 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Finally, Allen Investment Management LLC raised its holdings in Uber Technologies by 2.8% during the first quarter. Allen Investment Management LLC now owns 5,304,178 shares of the ride-sharing company’s stock worth $386,462,000 after purchasing an additional 142,559 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $3,001,070.52. Following the sale, the insider owned 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock valued at $3,496,071 over the last 90 days. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Loop Capital reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Barclays upped their price target on Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Piper Sandler upped their price target on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.71.

Uber Technologies Trading Up 0.6%

Shares of NYSE:UBER opened at $87.60 on Thursday. The stock has a market capitalization of $183.19 billion, a PE ratio of 15.34, a P/E/G ratio of 1.00 and a beta of 1.40. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The firm has a fifty day moving average price of $89.14 and a 200 day moving average price of $79.99. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned ($0.32) earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. 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.