Sowell Financial Services LLC Lowers Position in Uber Technologies, Inc. (NYSE:UBER)

Sowell Financial Services LLC lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,126 shares of the ride-sharing company’s stock after selling 2,989 shares during the period. Sowell Financial Services LLC’s holdings in Uber Technologies were worth $2,179,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of UBER. Leavell Investment Management Inc. boosted its position in Uber Technologies by 42.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 20,748 shares of the ride-sharing company’s stock worth $1,559,000 after purchasing an additional 6,155 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Uber Technologies during the 3rd quarter worth approximately $586,000. Assetmark Inc. raised its stake in shares of Uber Technologies by 23.5% during the 3rd quarter. Assetmark Inc. now owns 552,948 shares of the ride-sharing company’s stock worth $41,560,000 after buying an additional 105,185 shares during the period. Lindbrook Capital LLC raised its stake in shares of Uber Technologies by 14.4% during the 3rd quarter. Lindbrook Capital LLC now owns 6,364 shares of the ride-sharing company’s stock worth $478,000 after buying an additional 800 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Uber Technologies by 0.3% during the 3rd quarter. Atria Investments Inc now owns 109,107 shares of the ride-sharing company’s stock worth $8,200,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. DA Davidson cut their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Truist Financial increased their price target on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, February 5th. Eight research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.71.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $76.38 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market capitalization of $159.55 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The stock’s 50-day simple moving average is $70.92 and its 200-day simple moving average is $71.62.

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

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.