Pictet Asset Management Holding SA Cuts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Pictet Asset Management Holding SA lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,146,094 shares of the ride-sharing company’s stock after selling 733,397 shares during the period. Pictet Asset Management Holding SA owned 0.15% of Uber Technologies worth $189,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Avion Wealth increased its position in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies during the 4th quarter worth approximately $28,000. GHP Investment Advisors Inc. grew its holdings in shares of Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Uber Technologies during the 4th quarter worth $35,000. Finally, Kieckhefer Group LLC purchased a new position in Uber Technologies in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 2.9 %

UBER opened at $72.71 on Friday. The firm has a market cap of $151.89 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The firm’s 50-day simple moving average is $73.44 and its 200-day simple moving average is $71.73. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the transaction, the senior vice president now directly owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % 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 worth $5,793,869. 3.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Arete Research raised Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, February 5th. Ten investment 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 stock. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $90.31.

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.