ZEGA Investments LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

ZEGA Investments LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,992 shares of the ride-sharing company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Boston Partners acquired a new position in shares of Uber Technologies in the fourth quarter worth $381,057,000. Assenagon Asset Management S.A. increased its position in shares of Uber Technologies by 670.6% in the 4th 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 during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in Uber Technologies during the 4th quarter worth about $166,072,000. Finally, Edgewood Management LLC lifted its position in shares of Uber Technologies by 10.5% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Wolfe Research increased their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Tigress Financial raised their price objective on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. Ten 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,404 shares of company stock valued at $5,587,619 over the last three months. 3.84% of the stock is owned by insiders.

Uber Technologies Trading Up 2.1 %

Shares of Uber Technologies stock opened at $75.94 on Friday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a market cap of $158.65 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.89 and a beta of 1.39. The company has a fifty day simple moving average of $72.64 and a 200-day simple moving average of $71.59.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping 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%. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.