Perennial Investment Advisors LLC Raises Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Perennial Investment Advisors LLC lifted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,611 shares of the ride-sharing company’s stock after buying an additional 212 shares during the period. Perennial Investment Advisors LLC’s holdings in Uber Technologies were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its position in Uber Technologies by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares during the period. Polianta Ltd purchased a new stake in shares of Uber Technologies during the fourth quarter worth about $1,206,000. Allworth Financial LP raised its position in shares of Uber Technologies by 8.9% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Brophy Wealth Management LLC purchased a new position in Uber Technologies in the 3rd quarter valued at about $1,041,000. Finally, Lecap Asset Management Ltd. acquired a new stake in Uber Technologies in the 4th quarter worth about $3,188,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UBER shares. Piper Sandler restated an “overweight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, Evercore ISI decreased their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Ten 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.41.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s 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 completion of the sale, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,154 shares of company stock valued at $5,793,869. Insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $64.50 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market cap of $134.92 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The stock’s 50-day moving average is $73.75 and its two-hundred day moving average is $71.75. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating 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%. Analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.