Sit Investment Associates Inc. Grows Position in Uber Technologies, Inc. (NYSE:UBER)

Sit Investment Associates Inc. raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 12.8% during the 4th quarter, Holdings Channel reports. The fund owned 21,600 shares of the ride-sharing company’s stock after purchasing an additional 2,450 shares during the period. Sit Investment Associates Inc.’s holdings in Uber Technologies were worth $1,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP raised its position in Uber Technologies by 137.2% during the third quarter. Quarry LP now owns 1,499 shares of the ride-sharing company’s stock valued at $113,000 after purchasing an additional 867 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Uber Technologies by 28.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 61,044 shares of the ride-sharing company’s stock valued at $4,588,000 after buying an additional 13,517 shares during the period. EP Wealth Advisors LLC lifted its position in Uber Technologies by 10.9% in the third quarter. EP Wealth Advisors LLC now owns 87,650 shares of the ride-sharing company’s stock worth $6,588,000 after buying an additional 8,580 shares during the last quarter. National Bank of Canada FI boosted its stake in Uber Technologies by 47.6% during the third quarter. National Bank of Canada FI now owns 1,311,375 shares of the ride-sharing company’s stock worth $98,563,000 after buying an additional 422,969 shares during the period. Finally, Zacks Investment Management increased its position in Uber Technologies by 31.9% during the third quarter. Zacks Investment Management now owns 374,105 shares of the ride-sharing company’s stock valued at $28,118,000 after acquiring an additional 90,494 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on 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 owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Trading Down 7.7 %

NYSE:UBER opened at $64.50 on Monday. The stock has a market capitalization of $134.92 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.89 and a beta of 1.37. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $73.75 and a 200 day moving average of $71.74.

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, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. KGI Securities restated a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. Truist Financial upped their target price on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Wolfe Research upped their price objective on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.41.

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.