Geode Capital Management LLC Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Geode Capital Management LLC raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,561,447 shares of the ride-sharing company’s stock after purchasing an additional 1,061,088 shares during the quarter. Geode Capital Management LLC owned 2.07% of Uber Technologies worth $2,621,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avion Wealth boosted its holdings in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Uber Technologies during the 4th quarter worth $28,000. GHP Investment Advisors Inc. boosted its stake 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 last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Uber Technologies during the 4th quarter valued at $35,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies in the 4th quarter worth $33,000. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 0.2 %

NYSE:UBER opened at $72.92 on Tuesday. 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’s fifty day moving average price is $73.55 and its 200-day moving average price is $71.80. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The firm has a market capitalization of $152.53 billion, a P/E ratio of 15.99, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released 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%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 23,404 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares in the company, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by company insiders.

Analyst Ratings Changes

UBER has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Fox Advisors cut shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, February 5th. Finally, Truist Financial increased their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

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.