Advisory Services Network LLC Sells 11,670 Shares of Uber Technologies, Inc. (NYSE:UBER)

Advisory Services Network LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,340 shares of the ride-sharing company’s stock after selling 11,670 shares during the period. Advisory Services Network LLC’s holdings in Uber Technologies were worth $4,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Orion Portfolio Solutions LLC increased its stake in Uber Technologies by 11.2% in the third quarter. Orion Portfolio Solutions LLC now owns 39,635 shares of the ride-sharing company’s stock valued at $2,979,000 after purchasing an additional 3,981 shares in the last quarter. M&T Bank Corp boosted its holdings in Uber Technologies by 4.8% during the third quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company’s stock worth $13,161,000 after purchasing an additional 7,968 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Uber Technologies by 50.3% during the third quarter. Coldstream Capital Management Inc. now owns 24,397 shares of the ride-sharing company’s stock worth $1,805,000 after purchasing an additional 8,168 shares during the last quarter. Wilson & Boucher Capital Management LLC acquired a new position in Uber Technologies during the third quarter worth $237,000. Finally, Chiron Investment Management LLC raised its position in Uber Technologies by 21.4% during the third quarter. Chiron Investment Management LLC now owns 101,420 shares of the ride-sharing company’s stock worth $7,623,000 after acquiring an additional 17,881 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UBER shares. Evercore ISI dropped their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Arete Research raised shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Finally, KGI Securities restated a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Uber Technologies Stock Performance

NYSE UBER opened at $72.81 on Thursday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. 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 firm has a market cap of $152.30 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.89 and a beta of 1.37. The company has a fifty day moving average price of $73.82 and a 200-day moving average price of $71.55.

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

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by company insiders.

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.