Sit Investment Associates Inc. Boosts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Sit Investment Associates Inc. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,600 shares of the ride-sharing company’s stock after purchasing an additional 2,450 shares during the period. Sit Investment Associates Inc.’s holdings in Uber Technologies were worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UBER. Avion Wealth increased its position 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 period. Runnymede Capital Advisors Inc. bought a new stake in Uber Technologies during the 4th quarter valued at approximately $28,000. GHP Investment Advisors Inc. grew its holdings in shares of Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 223 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $33,000. Finally, Retirement Wealth Solutions LLC bought a new position in Uber Technologies in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock valued at $5,793,869 over the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Price Performance

NYSE UBER opened at $64.50 on Monday. The business’s fifty day moving average is $73.75 and its 200 day moving average is $71.74. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The company has a market capitalization of $134.92 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UBER shares. DA Davidson lowered their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Citigroup lowered their price objective on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Truist Financial boosted their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Ten equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.41.

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.