Generate Investment Management Ltd Sells 65,131 Shares of Uber Technologies, Inc. (NYSE:UBER)

Generate Investment Management Ltd cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,760 shares of the ride-sharing company’s stock after selling 65,131 shares during the quarter. Generate Investment Management Ltd’s holdings in Uber Technologies were worth $12,230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of Uber Technologies in the fourth quarter worth about $166,072,000. Edgewood Management LLC lifted its position in shares of 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 buying an additional 2,627,768 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new position in Uber Technologies during the third quarter valued at approximately $163,468,000. 80.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler decreased their price target on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup reduced their target price on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.19.

Uber Technologies Trading Up 8.6 %

UBER opened at $70.04 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market cap of $147.47 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 0.77 and a beta of 1.39. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The stock has a fifty day moving average price of $65.31 and a 200-day moving average price of $70.07.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently owned by company insiders.

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.