CIBC Private Wealth Group LLC Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

CIBC Private Wealth Group LLC reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,034 shares of the ride-sharing company’s stock after selling 7,062 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Uber Technologies were worth $2,599,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. IPG Investment Advisors LLC boosted its holdings in Uber Technologies by 20.5% during the fourth quarter. IPG Investment Advisors LLC now owns 47,087 shares of the ride-sharing company’s stock worth $2,840,000 after purchasing an additional 8,013 shares during the last quarter. RWA Wealth Partners LLC raised its stake in shares of Uber Technologies by 3.3% during the 4th quarter. RWA Wealth Partners LLC now owns 114,924 shares of the ride-sharing company’s stock worth $6,932,000 after purchasing an additional 3,725 shares during the period. Schroder Investment Management Group raised its position in Uber Technologies by 13.4% in the fourth quarter. Schroder Investment Management Group now owns 7,272,915 shares of the ride-sharing company’s stock worth $438,702,000 after acquiring an additional 860,257 shares during the period. PARUS FINANCE UK Ltd bought a new position in shares of Uber Technologies during the 4th quarter valued at approximately $1,068,000. Finally, Allianz SE bought a new position in Uber Technologies during the fourth quarter valued at $9,089,000. 80.24% of the stock is currently owned by institutional investors.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. This represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,154 shares of company stock worth $5,793,869. Company insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $74.63 on Thursday. The stock has a market capitalization of $156.11 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business’s 50 day simple moving average is $73.80 and its two-hundred day simple moving average is $71.82.

Uber Technologies (NYSE:UBER) last issued its 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 net margin of 22.41% and a return on equity of 62.60%. Analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on UBER. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Truist Financial increased their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Citizens Jmp downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.31.

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.