Uber Technologies, Inc. (NYSE:UBER) Stock Position Reduced by ProVise Management Group LLC

ProVise Management Group LLC decreased its stake in Uber Technologies, Inc. (NYSE:UBER) by 22.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,505 shares of the ride-sharing company’s stock after selling 1,000 shares during the quarter. ProVise Management Group LLC’s holdings in Uber Technologies were worth $216,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Corient Private Wealth LLC grew its stake in Uber Technologies by 9.2% in the third quarter. Corient Private Wealth LLC now owns 286,711 shares of the ride-sharing company’s stock valued at $13,187,000 after purchasing an additional 24,145 shares in the last quarter. Lincoln National Corp increased its holdings in Uber Technologies by 42.2% in the third quarter. Lincoln National Corp now owns 31,407 shares of the ride-sharing company’s stock worth $1,444,000 after buying an additional 9,323 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC bought a new position in Uber Technologies during the third quarter valued at approximately $289,000. Victory Capital Management Inc. lifted its stake in Uber Technologies by 3.0% in the third quarter. Victory Capital Management Inc. now owns 1,574,820 shares of the ride-sharing company’s stock valued at $72,426,000 after acquiring an additional 45,927 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Uber Technologies by 56.9% in the third quarter. Assenagon Asset Management S.A. now owns 545,633 shares of the ride-sharing company’s stock valued at $25,094,000 after acquiring an additional 197,921 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on UBER shares. Oppenheimer restated an “outperform” rating and set a $90.00 price target on shares of Uber Technologies in a report on Monday, April 29th. TD Cowen lowered their price objective on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Bank of America reduced their target price on Uber Technologies from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Trading Up 1.0 %

UBER stock traded up $0.66 during midday trading on Friday, reaching $64.26. The company’s stock had a trading volume of 10,385,892 shares, compared to its average volume of 23,057,772. The business’s 50-day simple moving average is $71.62 and its 200-day simple moving average is $67.60. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies, Inc. has a 52 week low of $37.07 and a 52 week high of $82.14. The stock has a market cap of $134.27 billion, a PE ratio of 103.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 0.88 EPS for the current year.

Uber Technologies 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.