Investment Management Corp of Ontario Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Investment Management Corp of Ontario cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 41.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,743 shares of the ride-sharing company’s stock after selling 79,697 shares during the period. Investment Management Corp of Ontario’s holdings in Uber Technologies were worth $6,921,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Avion Wealth grew its position 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 valued at $26,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC acquired a new stake in Uber Technologies during the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies during the fourth quarter worth $28,000. GHP Investment Advisors Inc. raised its holdings in shares of Uber Technologies by 85.1% in the fourth 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. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies in the fourth quarter valued at $35,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Up 0.4 %

UBER stock opened at $82.60 on Friday. 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 firm has a 50 day simple moving average of $74.72 and a 200-day simple moving average of $71.53. The company has a market capitalization of $172.73 billion, a P/E ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) EPS. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions 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 directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, April 16th. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Barclays lifted their target price on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

About Uber Technologies

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.