Jacobs Levy Equity Management Inc. Reduces Position in Uber Technologies, Inc. (NYSE:UBER)

Jacobs Levy Equity Management Inc. decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,204 shares of the ride-sharing company's stock after selling 9,718 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Uber Technologies were worth $4,174,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of UBER. Fiduciary Alliance LLC boosted its holdings in shares of Uber Technologies by 5.9% during the fourth quarter. Fiduciary Alliance LLC now owns 9,068 shares of the ride-sharing company's stock worth $547,000 after purchasing an additional 502 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Uber Technologies by 12.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 3,788 shares of the ride-sharing company's stock worth $228,000 after purchasing an additional 432 shares during the last quarter. Cooper Financial Group acquired a new stake in shares of Uber Technologies during the fourth quarter worth $222,000. Grassi Investment Management boosted its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Grassi Investment Management now owns 97,925 shares of the ride-sharing company's stock worth $5,907,000 after purchasing an additional 500 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Uber Technologies by 36.3% during the fourth quarter. AdvisorNet Financial Inc now owns 11,352 shares of the ride-sharing company's stock worth $685,000 after purchasing an additional 3,021 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Down 1.7%

Shares of Uber Technologies stock opened at $90.14 on Thursday. 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 has a market cap of $188.50 billion, a P/E ratio of 19.77, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $92.17. The business has a 50-day moving average price of $75.57 and a 200 day moving average price of $71.82.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. Uber Technologies's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. Wells Fargo & Company raised their price objective on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial lifted their target price on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Piper Sandler reiterated an "overweight" rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Barclays lifted their target price on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a report on Thursday, February 6th. Eleven 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.69.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 23,404 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was 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 represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,788 shares of company stock worth $9,028,690 over the last ninety days. 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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.