Overbrook Management Corp Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Overbrook Management Corp lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 58.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 104,986 shares of the ride-sharing company’s stock after selling 149,573 shares during the quarter. Uber Technologies makes up approximately 1.8% of Overbrook Management Corp’s investment portfolio, making the stock its 23rd biggest holding. Overbrook Management Corp’s holdings in Uber Technologies were worth $7,891,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. Legal & General Group Plc increased its stake in Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 shares during the period. Clearbridge Investments LLC increased its stake in Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock worth $889,956,000 after purchasing an additional 1,076,876 shares during the period. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 3,179,308 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Uber Technologies by 10.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,464,780 shares of the ride-sharing company’s stock worth $615,220,000 after purchasing an additional 821,508 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

In other Uber Technologies 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 value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The trade was a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Thursday, October 31st. Evercore ISI raised their price target on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Raymond James began coverage on Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Price Performance

NYSE UBER opened at $69.62 on Thursday. 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, Inc. has a 12-month low of $53.89 and a 12-month high of $87.00. The company has a market capitalization of $146.60 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34. The firm’s 50 day moving average is $75.47 and its 200-day moving average is $71.11.

Uber Technologies (NYSE:UBER) last issued its earnings results 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 business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current fiscal year.

Uber Technologies 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.