Renaissance Group LLC Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Renaissance Group LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 362,345 shares of the ride-sharing company’s stock, valued at approximately $21,899,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after buying an additional 2,364,525 shares during the period. Geode Capital Management LLC increased its stake in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after acquiring an additional 1,061,088 shares during the period. Jennison Associates LLC raised its holdings 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 worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Norges Bank bought a new stake in Uber Technologies during the fourth quarter worth approximately $1,467,754,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Uber Technologies by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,273,165 shares of the ride-sharing company’s stock worth $800,637,000 after purchasing an additional 774,956 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on 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 directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. DA Davidson dropped their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Wolfe Research upped their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Finally, KGI Securities restated a “neutral” rating and issued a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $90.41.

Uber Technologies Price Performance

NYSE UBER opened at $65.60 on Tuesday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The company has a fifty day simple moving average of $73.68 and a 200 day simple moving average of $71.67. 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 $137.21 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results 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%. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.