Uber Technologies, Inc. $UBER Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC sold 62.9% of its holdings in Uber Technologies, reducing its shares to 59,168, valued at approximately $4.3 million.
• Uber reported a net margin of 26.68% and a year-over-year revenue increase of 18.2%, with $12.65 billion in revenue for the latest quarter.
• Several brokerages have raised their price targets for Uber's stock, with Bank of America increasing its target from $97 to $115, reflecting growing analyst confidence.

Acadian Asset Management LLC lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 62.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,168 shares of the ride-sharing company's stock after selling 100,298 shares during the quarter. Acadian Asset Management LLC's holdings in Uber Technologies were worth $4,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in UBER. Brighton Jones LLC lifted its position in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after purchasing an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Uber Technologies during the fourth quarter worth about $395,000. Bison Wealth LLC lifted its position in shares of Uber Technologies by 20.3% during the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock worth $229,000 after purchasing an additional 641 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Uber Technologies by 52.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 76,618 shares of the ride-sharing company's stock worth $4,622,000 after purchasing an additional 26,197 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $95.90 on Monday. The firm has a market capitalization of $199.99 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm's 50 day moving average is $92.62 and its two-hundred day moving average is $84.71.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. Research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UBER. Susquehanna increased their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Bank of America raised their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Piper Sandler raised their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, BMO Capital Markets raised their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.70% 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.

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