1248 Management LLC Acquires Shares of 90,524 Uber Technologies, Inc. (NYSE:UBER)

1248 Management LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,524 shares of the ride-sharing company's stock, valued at approximately $5,460,000. Uber Technologies comprises approximately 2.4% of 1248 Management LLC's portfolio, making the stock its 10th largest holding.

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in Uber Technologies during the 4th quarter worth about $1,467,754,000. Jennison Associates LLC grew its stake in Uber Technologies by 36.9% during 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 purchasing an additional 7,137,512 shares during the last quarter. Boston Partners acquired a new position in shares of Uber Technologies in the fourth quarter valued at about $381,057,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Uber Technologies by 670.6% in 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 last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $3.39 on Friday, hitting $84.28. The stock had a trading volume of 22,376,033 shares, compared to its average volume of 20,278,011. The stock has a market cap of $176.30 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 0.89 and a beta of 1.37. 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 company's 50 day moving average price is $73.83 and its 200 day moving average price is $71.38.

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 for the quarter, beating 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%. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on UBER shares. Citigroup cut their price target on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $82.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. TD Cowen cut their price target on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Truist Financial upped their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Fox Advisors cut Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.81.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the company'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 value of $1,431,400.00. Following the sale, the senior vice president now directly owns 361,908 shares of the company's stock, valued at approximately $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. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 in the last 90 days. Company insiders own 3.70% of the company's stock.

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.