MetLife Investment Management LLC Cuts Stake in Uber Technologies, Inc. (NYSE:UBER)

MetLife Investment Management LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 636,214 shares of the ride-sharing company’s stock after selling 12,899 shares during the period. MetLife Investment Management LLC’s holdings in Uber Technologies were worth $47,818,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Edgewood Management LLC increased its stake in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the last quarter. Legal & General Group Plc grew its holdings in Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares in the last quarter. Clearbridge Investments LLC raised its stake in Uber Technologies by 9.6% in the 2nd quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after purchasing an additional 1,076,876 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of research reports. Bank of America boosted their price target on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 31st. Finally, Raymond James assumed coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Stock Performance

Shares of UBER traded up $0.79 during midday trading on Wednesday, reaching $72.35. 581,947 shares of the stock were exchanged, compared to its average volume of 18,225,324. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a market cap of $152.35 billion, a P/E ratio of 35.60, a PEG ratio of 0.91 and a beta of 1.34. The stock’s 50 day simple moving average is $75.49 and its 200 day simple moving average is $71.20. 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 posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS 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 last year, the company earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Transactions at Uber Technologies

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

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.