Jacobs Levy Equity Management Inc. Has $5.93 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Jacobs Levy Equity Management Inc. reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 96.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,922 shares of the ride-sharing company’s stock after selling 2,398,364 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Uber Technologies were worth $5,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Janus Henderson Group PLC lifted its holdings in Uber Technologies by 18.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after purchasing an additional 2,056,273 shares during the last quarter. Harmony Asset Management LLC lifted its stake in shares of Uber Technologies by 28.0% in the third quarter. Harmony Asset Management LLC now owns 6,995 shares of the ride-sharing company’s stock worth $526,000 after buying an additional 1,532 shares during the last quarter. HighVista Strategies LLC acquired a new position in Uber Technologies in the 3rd quarter valued at $1,323,000. Hilltop Holdings Inc. raised its holdings in Uber Technologies by 380.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 28,339 shares of the ride-sharing company’s stock worth $2,130,000 after acquiring an additional 22,438 shares during the period. Finally, Ascent Group LLC lifted its position in Uber Technologies by 5.1% during the 3rd quarter. Ascent Group LLC now owns 21,702 shares of the ride-sharing company’s stock worth $1,631,000 after acquiring an additional 1,048 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $95.00 price objective on shares of Uber Technologies in a research report on Wednesday. Raymond James began coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Truist Financial cut 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. BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Finally, Bank of America lifted their target price on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.51.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.84% of the company’s stock.

Uber Technologies Trading Up 1.4 %

Shares of UBER opened at $66.16 on Friday. The stock’s fifty day simple moving average is $74.66 and its 200-day simple moving average is $71.38. The firm has a market capitalization of $139.31 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

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.