Freedom Investment Management Inc. Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

Freedom Investment Management Inc. lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,111 shares of the ride-sharing company’s stock after selling 852 shares during the period. Freedom Investment Management Inc.’s holdings in Uber Technologies were worth $1,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ascent Wealth Partners LLC acquired a new position in Uber Technologies in the 3rd quarter worth about $2,087,000. Aviso Wealth Management acquired a new position in shares of Uber Technologies during the 3rd quarter worth approximately $2,302,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Uber Technologies by 9.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock valued at $432,356,000 after buying an additional 512,591 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Uber Technologies by 17.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after acquiring an additional 1,383 shares during the period. Finally, Lederer & Associates Investment Counsel CA purchased a new position in Uber Technologies during the third quarter valued at $799,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 23.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Thursday, October 31st. Loop Capital increased their target price on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Oppenheimer upped their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $71.64 on Thursday. The company has a market cap of $150.85 billion, a P/E ratio of 35.64, a PEG ratio of 0.91 and a beta of 1.34. The company has a 50-day moving average price of $75.45 and a 200 day moving average price of $71.20. 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 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data 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. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current 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.