Allstate Corp Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Allstate Corp acquired a new position in Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, HoldingsChannel reports. The fund acquired 55,931 shares of the ride-sharing company’s stock, valued at approximately $3,374,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky grew its stake in Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after purchasing an additional 13,433 shares during the last quarter. Polianta Ltd bought a new position in shares of Uber Technologies during the 4th quarter worth approximately $1,206,000. Allworth Financial LP lifted its position in Uber Technologies by 8.9% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after acquiring an additional 1,663 shares during the last quarter. Brophy Wealth Management LLC acquired a new stake in Uber Technologies in the third quarter valued at approximately $1,041,000. Finally, Lecap Asset Management Ltd. purchased a new position in Uber Technologies in the fourth quarter worth $3,188,000. 80.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on UBER. Citizens Jmp downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Citigroup dropped their price target 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. DA Davidson decreased their price objective on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Evercore ISI dropped their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies 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 transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 in the last three months. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Down 2.9 %

Shares of NYSE:UBER opened at $72.71 on Friday. The company has a market capitalization of $151.89 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The business has a 50-day moving average price of $73.44 and a 200 day moving average price of $71.75. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its earnings results 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%. Sell-side 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.