Pinnacle Wealth Planning Services Inc. Lowers Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Pinnacle Wealth Planning Services Inc. lessened its holdings in Uber Technologies, Inc. (NYSE:UBER) by 35.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,291 shares of the ride-sharing company’s stock after selling 5,060 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Uber Technologies were worth $560,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its position in 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. Assenagon Asset Management S.A. raised its holdings in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after buying an additional 5,753,637 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new position in shares of Uber Technologies in the fourth quarter worth $166,072,000. Edgewood Management LLC raised its holdings in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after buying an additional 2,627,768 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Uber Technologies by 1,370.1% in the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock worth $134,144,000 after buying an additional 2,064,382 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

NYSE:UBER opened at $74.88 on Friday. The company’s 50-day moving average price is $70.62 and its 200-day moving average price is $71.63. 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 company has a market cap of $156.41 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00.

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 the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, 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 transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on UBER. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Evercore ISI decreased their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. DA Davidson decreased their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, February 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.71.

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.