Clearbridge Investments LLC Reduces Stake in Uber Technologies, Inc. (NYSE:UBER)

Clearbridge Investments LLC reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 26.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,394,721 shares of the ride-sharing company’s stock after selling 3,429,216 shares during the quarter. Clearbridge Investments LLC’s holdings in Uber Technologies were worth $566,690,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Avion Wealth grew its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Uber Technologies during the 4th quarter valued at $28,000. GHP Investment Advisors Inc. boosted its position in Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 223 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Uber Technologies in the 4th quarter worth $35,000. Finally, Kieckhefer Group LLC purchased a new position in Uber Technologies during the 4th quarter valued at about $33,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 2.9 %

NYSE:UBER opened at $72.71 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a market cap of $151.89 billion, a PE ratio of 15.94, a P/E/G ratio of 0.89 and a beta of 1.39. The company’s 50 day moving average is $73.44 and its two-hundred day moving average is $71.75.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UBER has been the topic of several research reports. Evercore ISI dropped their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Truist Financial lifted their target price 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. Wells Fargo & Company reduced their price objective on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

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.