iA Global Asset Management Inc. Sells 83,802 Shares of Uber Technologies, Inc. (NYSE:UBER)

iA Global Asset Management Inc. trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,391 shares of the ride-sharing company's stock after selling 83,802 shares during the period. iA Global Asset Management Inc.'s holdings in Uber Technologies were worth $7,202,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas grew its stake in Uber Technologies by 388.0% in the fourth quarter. Teacher Retirement System of Texas now owns 269,817 shares of the ride-sharing company's stock valued at $16,275,000 after purchasing an additional 214,525 shares in the last quarter. Sandy Spring Bank grew its stake in shares of Uber Technologies by 24.1% in the fourth quarter. Sandy Spring Bank now owns 39,617 shares of the ride-sharing company's stock valued at $2,390,000 after buying an additional 7,702 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Uber Technologies by 3.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 874,823 shares of the ride-sharing company's stock worth $52,769,000 after buying an additional 29,038 shares during the last quarter. GM Advisory Group LLC increased its holdings in Uber Technologies by 11.1% during the fourth quarter. GM Advisory Group LLC now owns 106,009 shares of the ride-sharing company's stock worth $6,394,000 after buying an additional 10,592 shares during the last quarter. Finally, GCQ FUNDS MANAGEMENT PTY Ltd bought a new stake in Uber Technologies during the fourth quarter worth $9,497,000. Institutional investors own 80.24% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research firms have recently weighed in on UBER. Fox Advisors lowered shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Tigress Financial upped their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Citizens Jmp downgraded Uber Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price target on Uber Technologies from $90.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.31.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company's stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 86,973 shares of the company's stock, valued at approximately $7,046,552.46. The trade was a 26.28 % 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 worth $5,793,869. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 1.2 %

UBER traded down $0.92 during midday trading on Tuesday, hitting $75.59. 16,054,128 shares of the company were exchanged, compared to its average volume of 19,651,368. The firm's 50 day moving average price is $72.85 and its 200-day moving average price is $71.63. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The firm has a market capitalization of $157.91 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts forecast 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.