Shell Asset Management Co. Has $7.90 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Shell Asset Management Co. lowered its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,937 shares of the ride-sharing company's stock after selling 10,094 shares during the period. Shell Asset Management Co.'s holdings in Uber Technologies were worth $7,898,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised 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 valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the last quarter. Norges Bank bought a new position in shares of Uber Technologies during the fourth quarter valued at $1,467,754,000. Jennison Associates LLC raised its stake in shares of Uber Technologies by 36.9% during 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 acquiring an additional 7,137,512 shares during the last quarter. Boston Partners bought a new position in Uber Technologies during the fourth quarter worth $381,057,000. Finally, Jericho Capital Asset Management L.P. bought a new position in Uber Technologies during the fourth quarter worth $298,644,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $90.07 on Friday. The firm has a market cap of $188.35 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $92.17. The firm's 50-day simple moving average is $75.91 and its two-hundred day simple moving average is $71.91.

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

Insider Activity

In related news, insider Tony West sold 23,404 shares of the company'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 transaction of $1,644,599.08. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,788 shares of company stock valued at $9,028,690 over the last quarter. Company insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UBER. Evercore ISI lowered their target price on shares of Uber Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Arete Research raised shares of Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. DA Davidson lifted their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lifted their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their target price on shares of Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.69.

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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