Pitcairn Co. Sells 12,688 Shares of Uber Technologies, Inc. (NYSE:UBER)

Pitcairn Co. reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,220 shares of the ride-sharing company’s stock after selling 12,688 shares during the period. Pitcairn Co.’s holdings in Uber Technologies were worth $6,631,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after acquiring an additional 3,179,308 shares during the period. Edgewood Management LLC raised its position in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new stake in Uber Technologies in the third quarter worth about $163,468,000. Janus Henderson Group PLC raised its position in Uber Technologies by 36.3% in the first quarter. Janus Henderson Group PLC now owns 8,009,770 shares of the ride-sharing company’s stock worth $616,613,000 after acquiring an additional 2,134,621 shares during the period. Finally, Samlyn Capital LLC bought a new stake in Uber Technologies in the second quarter worth about $134,987,000. 80.24% of the stock is owned by institutional investors.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 23.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Up 2.7 %

Shares of UBER opened at $71.49 on Friday. The firm has a market cap of $150.54 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 0.90 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. 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 50 day moving average price of $75.47 and a 200-day moving average price of $71.09.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UBER shares. DA Davidson lifted their target price on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. JMP Securities lifted their target price on shares of Uber Technologies from $80.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, October 31st. Finally, Truist Financial reduced their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.32.

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.