Clearbridge Investments LLC Sells 3,429,216 Shares of Uber Technologies, Inc. (NYSE:UBER)

Clearbridge Investments LLC lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,394,721 shares of the ride-sharing company’s stock after selling 3,429,216 shares during the period. Clearbridge Investments LLC owned about 0.45% of Uber Technologies worth $566,690,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IPG Investment Advisors LLC lifted its holdings in shares of Uber Technologies by 20.5% during the fourth quarter. IPG Investment Advisors LLC now owns 47,087 shares of the ride-sharing company’s stock valued at $2,840,000 after acquiring an additional 8,013 shares during the period. RWA Wealth Partners LLC boosted its position in Uber Technologies by 3.3% in the fourth quarter. RWA Wealth Partners LLC now owns 114,924 shares of the ride-sharing company’s stock valued at $6,932,000 after buying an additional 3,725 shares in the last quarter. Schroder Investment Management Group boosted its position in Uber Technologies by 13.4% in the fourth quarter. Schroder Investment Management Group now owns 7,272,915 shares of the ride-sharing company’s stock valued at $438,702,000 after buying an additional 860,257 shares in the last quarter. PARUS FINANCE UK Ltd acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $1,068,000. Finally, Allianz SE acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $9,089,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,154 shares of company stock worth $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UBER shares. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. DA Davidson dropped their target price on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Wolfe Research increased their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $72.71 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The firm has a market capitalization of $151.89 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.89 and a beta of 1.39. The stock’s 50 day moving average is $73.44 and its 200-day moving average is $71.75. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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