Geode Capital Management LLC Grows Position in Uber Technologies, Inc. (NYSE:UBER)

Geode Capital Management LLC boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 43,561,447 shares of the ride-sharing company’s stock after purchasing an additional 1,061,088 shares during the period. Geode Capital Management LLC’s holdings in Uber Technologies were worth $2,621,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avion Wealth lifted its holdings in Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies in the fourth quarter valued at $28,000. GHP Investment Advisors Inc. grew its position in shares of Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $35,000. Finally, Kieckhefer Group LLC purchased a new stake in Uber Technologies during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. UBS Group reiterated a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. Ten 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Price Performance

UBER opened at $72.92 on Tuesday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a 50 day moving average of $73.55 and a two-hundred day moving average of $71.80. The company has a market cap of $152.53 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.89 and a beta of 1.39. 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 issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping 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%. On average, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s 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 sale, the senior vice president now owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 in the last 90 days. 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.