ProVise Management Group LLC Sells 1,000 Shares of Uber Technologies, Inc. (NYSE:UBER)

ProVise Management Group LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 22.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,505 shares of the ride-sharing company’s stock after selling 1,000 shares during the quarter. ProVise Management Group LLC’s holdings in Uber Technologies were worth $216,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Uber Technologies during the fourth quarter worth $1,415,778,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $272,625,000. Charles Schwab Investment Management Inc. grew its position in shares of Uber Technologies by 75.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,256,352 shares of the ride-sharing company’s stock valued at $631,484,000 after buying an additional 4,402,382 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in shares of Uber Technologies in the third quarter valued at about $187,111,000. Finally, Brown Advisory Inc. raised its position in shares of Uber Technologies by 14.7% during the fourth quarter. Brown Advisory Inc. now owns 17,991,630 shares of the ride-sharing company’s stock worth $1,107,745,000 after acquiring an additional 2,307,763 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the transaction, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on UBER shares. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a report on Thursday, May 16th. Loop Capital decreased their price objective on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. DA Davidson restated a “buy” rating and issued a $81.00 target price on shares of Uber Technologies in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Uber Technologies from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada lowered their price objective on Uber Technologies from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Uber Technologies Stock Performance

UBER stock traded up $0.66 during mid-day trading on Friday, hitting $64.26. The company had a trading volume of 10,385,892 shares, compared to its average volume of 23,057,772. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $134.27 billion, a PE ratio of 103.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39. Uber Technologies, Inc. has a 12 month low of $37.07 and a 12 month high of $82.14. The stock’s fifty day moving average price is $71.62 and its two-hundred day moving average price is $67.60.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same period last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts forecast that Uber Technologies, Inc. will post 0.88 earnings per share for the current fiscal year.

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.