Clearbridge Investments LLC Sells 3,429,216 Shares of Uber Technologies, Inc. (NYSE:UBER)

Clearbridge Investments LLC cut its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,394,721 shares of the ride-sharing company's stock after selling 3,429,216 shares during the quarter. Clearbridge Investments LLC owned about 0.45% of Uber Technologies worth $566,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Uber Technologies by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company's stock worth $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Polianta Ltd bought a new stake in Uber Technologies in the 4th quarter valued at about $1,206,000. Allworth Financial LP raised its stake in Uber Technologies by 8.9% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company's stock worth $1,229,000 after buying an additional 1,663 shares during the period. Brophy Wealth Management LLC bought a new position in Uber Technologies in the third quarter worth approximately $1,041,000. Finally, Lecap Asset Management Ltd. acquired a new stake in Uber Technologies in the fourth quarter valued at approximately $3,188,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,154 shares of company stock valued at $5,793,869. Company insiders own 3.84% of the company's stock.

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Wall Street Analyst Weigh In

UBER has been the topic of a number of research reports. KGI Securities reaffirmed a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. Truist Financial raised their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Benchmark reissued a "hold" rating on shares of Uber Technologies in a research report on Friday, January 31st. Citizens Jmp cut shares of Uber Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, UBS Group reissued a "buy" rating on shares of Uber Technologies in a report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.31.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded up $0.17 during trading on Monday, hitting $72.92. 16,021,299 shares of the company were exchanged, compared to its average volume of 20,081,210. The company has a market cap of $152.53 billion, a PE ratio of 15.99, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a 50 day moving average of $73.44 and a 200 day moving average of $71.76.

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