Investment Research & Advisory Group Inc. Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Investment Research & Advisory Group Inc. trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,360 shares of the ride-sharing company’s stock after selling 201 shares during the period. Uber Technologies accounts for about 1.0% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 19th largest position. Investment Research & Advisory Group Inc.’s holdings in Uber Technologies were worth $3,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position 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 valued at $398,809,000 after purchasing an additional 5,753,637 shares during the period. Edgewood Management LLC boosted its stake in Uber Technologies by 10.5% in the 3rd 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. AMF Tjanstepension AB purchased a new stake in Uber Technologies in the 3rd quarter valued at about $163,468,000. Nordea Investment Management AB increased its stake in shares of Uber Technologies by 1,370.1% during the 4th quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after acquiring an additional 2,064,382 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

NYSE UBER opened at $68.59 on Friday. The company has a 50-day moving average price of $65.86 and a two-hundred day moving average price of $70.25. The stock has a market cap of $144.42 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Uber Technologies, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on UBER. Wells Fargo & Company dropped their price target on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. DA Davidson increased their target price on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Truist Financial dropped their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Thursday, October 17th. Finally, KeyCorp cut their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.84% of the stock is currently owned by insiders.

Uber Technologies 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.