Cadence Bank Grows Stake in Uber Technologies, Inc. (NYSE:UBER)

Cadence Bank grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 141.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,826 shares of the ride-sharing company's stock after acquiring an additional 4,000 shares during the period. Cadence Bank's holdings in Uber Technologies were worth $412,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Uber Technologies in the fourth quarter valued at $1,467,754,000. Jennison Associates LLC raised 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 valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Boston Partners purchased a new stake in Uber Technologies during the fourth quarter valued at about $381,057,000. Assenagon Asset Management S.A. boosted its position in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company's stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the period. Finally, Montrusco Bolton Investments Inc. purchased a new position in shares of Uber Technologies in the fourth quarter worth about $166,072,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company's stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UBER has been the subject of several analyst reports. Citigroup cut their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Truist Financial lifted their price target on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Wolfe Research raised their target price on Uber Technologies from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Citizens Jmp cut Uber Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, TD Cowen cut their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $89.81.

Uber Technologies Stock Up 3.0 %

Shares of NYSE UBER opened at $75.28 on Friday. The firm's fifty day moving average is $74.06 and its 200 day moving average is $71.46. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. 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 market cap of $157.47 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share 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.

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