Delta Investment Management LLC Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Delta Investment Management LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 25.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,943 shares of the ride-sharing company’s stock after selling 3,699 shares during the quarter. Delta Investment Management LLC’s holdings in Uber Technologies were worth $660,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Welch & Forbes LLC grew its position in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock valued at $237,000 after acquiring an additional 148 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in shares of Uber Technologies by 3.5% during the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after purchasing an additional 150 shares during the period. Drive Wealth Management LLC increased its position in Uber Technologies by 3.1% during the 4th quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock worth $312,000 after purchasing an additional 155 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in Uber Technologies by 2.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock valued at $398,000 after buying an additional 155 shares during the period. Finally, Fairfield Financial Advisors LTD lifted its position in Uber Technologies by 34.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 670 shares of the ride-sharing company’s stock valued at $40,000 after buying an additional 170 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UBER shares. Barclays increased their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Wedbush downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Bank of America upped their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research note on Monday, May 5th. Finally, Truist Financial boosted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.69.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction 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 83,788 shares of company stock worth $6,517,070 over the last 90 days. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Up 0.7%

Shares of NYSE:UBER opened at $92.41 on Tuesday. The company has a 50 day moving average of $76.76 and a 200-day moving average of $72.07. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of $193.24 billion, a P/E ratio of 20.27, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $94.17.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.