Wahed Invest LLC Increases Holdings in Uber Technologies, Inc. (NYSE:UBER)

Wahed Invest LLC increased its position in Uber Technologies, Inc. (NYSE:UBER) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,556 shares of the ride-sharing company’s stock after purchasing an additional 3,159 shares during the period. Wahed Invest LLC’s holdings in Uber Technologies were worth $3,110,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings 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 buying an additional 52,125,476 shares during the last quarter. Norges Bank purchased a new stake in Uber Technologies during the 4th quarter valued at $1,467,754,000. Jennison Associates LLC increased its holdings in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners bought a new stake in Uber Technologies in the 4th quarter worth about $381,057,000. Finally, Assenagon Asset Management S.A. increased its holdings in Uber Technologies by 670.6% in the 4th 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 in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UBER shares. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Truist Financial increased 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. JPMorgan Chase & Co. reduced their price target on shares of Uber Technologies from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. KGI Securities reiterated a “neutral” rating and issued a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company boosted their target price on shares of Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Ten research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.81.

Uber Technologies Trading Down 0.2 %

Shares of UBER opened at $80.87 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. 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’s fifty day simple moving average is $73.64 and its 200-day simple moving average is $71.45. The company has a market cap of $169.15 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) 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%. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares of the company’s stock, valued at $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 in the last quarter. 3.70% of the stock is owned by company insiders.

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.