Appian Way Asset Management LP Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Appian Way Asset Management LP bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,000 shares of the ride-sharing company's stock, valued at approximately $2,413,000. Uber Technologies accounts for about 0.5% of Appian Way Asset Management LP's investment portfolio, making the stock its 21st biggest position.

A number of other large investors have also recently made changes to their positions in UBER. Capital Research Global Investors raised its holdings in Uber Technologies by 79.0% in 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 purchasing an additional 52,125,476 shares in the last quarter. Norges Bank bought a new position in Uber Technologies in the fourth quarter worth about $1,467,754,000. Jennison Associates LLC raised its holdings in 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 worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners bought a new position in Uber Technologies in the fourth quarter worth about $381,057,000. Finally, Assenagon Asset Management S.A. raised its holdings in 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 in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. KGI Securities restated a "neutral" rating and set a $78.00 price objective on shares of Uber Technologies in a report on Tuesday, March 11th. DA Davidson cut their price objective on shares of Uber Technologies from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Uber Technologies from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.81.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at $1,662,150. This represents a 11.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 in the company, 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. 3.70% of the stock is owned by company insiders.

Uber Technologies Stock Up 2.1 %

UBER opened at $81.07 on Thursday. 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 market capitalization of $169.58 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The business has a 50-day moving average of $73.55 and a two-hundred day moving average of $71.48. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its 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 return on equity of 62.60% and a net margin of 22.41%. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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.

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