Kolinsky Wealth Management LLC Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Kolinsky Wealth Management LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 23.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,275 shares of the ride-sharing company’s stock after selling 1,875 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Uber Technologies were worth $379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Allworth Financial LP raised its position in shares of Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after buying an additional 1,663 shares during the period. Lecap Asset Management Ltd. purchased a new position in Uber Technologies in the fourth quarter valued at approximately $3,188,000. Clark Capital Management Group Inc. raised its holdings in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock valued at $24,280,000 after buying an additional 399,008 shares during the period. Baader Bank Aktiengesellschaft grew its stake in Uber Technologies by 1,705.2% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock worth $3,414,000 after buying an additional 53,457 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in Uber Technologies by 6.4% during the fourth quarter. Greenwood Capital Associates LLC now owns 84,658 shares of the ride-sharing company’s stock worth $5,107,000 after buying an additional 5,095 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER opened at $91.84 on Wednesday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The firm has a market capitalization of $192.05 billion, a PE ratio of 20.14, a P/E/G ratio of 0.89 and a beta of 1.43. The firm has a 50-day moving average price of $77.21 and a 200 day moving average price of $72.21. 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 announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the business posted ($0.32) earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UBER shares. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. UBS Group boosted their price target on Uber Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $93.09.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now directly owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,788 shares of company stock valued at $6,517,070. 3.84% of the stock is currently owned by corporate 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.