Envestnet Portfolio Solutions Inc. Trims Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Envestnet Portfolio Solutions Inc. decreased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,773 shares of the ride-sharing company’s stock after selling 3,205 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Uber Technologies were worth $13,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UBER. Welch & Forbes LLC increased its stake in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after acquiring an additional 148 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its position in Uber Technologies by 3.5% during the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after purchasing an additional 150 shares in the last quarter. Canopy Partners LLC raised its holdings in Uber Technologies by 2.2% in the third quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock valued at $523,000 after buying an additional 151 shares during the period. Drive Wealth Management LLC lifted its position in Uber Technologies by 3.1% during the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock valued at $312,000 after buying an additional 155 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its stake in Uber Technologies by 2.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock worth $398,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Citigroup reduced their price objective on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, KGI Securities restated a “neutral” rating and issued a $78.00 price target on shares of Uber Technologies in a report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $71.67 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a market capitalization of $149.71 billion, a PE ratio of 15.72, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The business’s fifty day moving average price is $71.85 and its two-hundred day moving average price is $71.55.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current 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.