Pitcairn Co. Purchases 5,470 Shares of Uber Technologies, Inc. (NYSE:UBER)

Pitcairn Co. grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,690 shares of the ride-sharing company's stock after buying an additional 5,470 shares during the quarter. Pitcairn Co.'s holdings in Uber Technologies were worth $5,651,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of UBER. Vanguard Group Inc. raised its holdings in Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock valued at $10,903,846,000 after buying an additional 2,364,525 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Norges Bank bought a new stake in shares of Uber Technologies in the fourth quarter worth $1,467,754,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Uber Technologies by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,273,165 shares of the ride-sharing company's stock valued at $800,637,000 after purchasing an additional 774,956 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Uber Technologies Stock Down 6.2 %

UBER stock traded down $4.62 during mid-day trading on Thursday, reaching $69.88. 23,256,579 shares of the company traded hands, compared to its average volume of 20,109,335. 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 firm's 50 day moving average price is $73.83 and its 200 day moving average price is $71.81. The stock has a market cap of $146.17 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UBER. UBS Group reiterated a "buy" rating on shares of Uber Technologies in a research report on Friday, February 21st. Arete Research raised shares of Uber Technologies to a "hold" rating in a research report on Tuesday, February 18th. Piper Sandler restated an "overweight" rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. KGI Securities reiterated a "neutral" rating and set a $78.00 price objective on shares of Uber Technologies in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $90.41.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction on 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 transaction, the insider now owns 86,973 shares of the company's stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock valued at $5,793,869 over the last ninety days. Corporate insiders own 3.84% of the company's stock.

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.