Sandy Spring Bank Increases Holdings in Uber Technologies, Inc. (NYSE:UBER)

Sandy Spring Bank raised its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,617 shares of the ride-sharing company's stock after buying an additional 7,702 shares during the quarter. Sandy Spring Bank's holdings in Uber Technologies were worth $2,390,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UBER. Jennison Associates LLC raised its position in shares of Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after buying an additional 7,137,512 shares in the last quarter. Boston Partners bought a new position in Uber Technologies during the 4th quarter worth $381,057,000. Assenagon Asset Management S.A. raised its holdings in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company's stock valued at $398,809,000 after acquiring an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of Uber Technologies during the 4th quarter worth $166,072,000. Finally, Edgewood Management LLC increased its position in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company's stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Institutional investors own 80.24% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UBER shares. Citizens Jmp lowered Uber Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Benchmark restated a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. Citigroup dropped their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Piper Sandler restated an "overweight" rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Finally, Fox Advisors downgraded shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. Ten 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.31.

Uber Technologies Trading Down 1.2 %

Shares of NYSE:UBER traded down $0.92 during trading on Tuesday, reaching $75.59. 16,054,128 shares of the company traded hands, compared to its average volume of 19,651,368. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The firm has a market capitalization of $157.91 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.89 and a beta of 1.39. The business's fifty day moving average is $72.85 and its 200-day moving average is $71.63.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results 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 net margin of 22.41% and a return on equity of 62.60%. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

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 shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 Company 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.