Pinnacle Financial Partners Inc Decreases Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Pinnacle Financial Partners Inc trimmed its position in Uber Technologies, Inc. (NYSE:UBER) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,970 shares of the ride-sharing company’s stock after selling 317 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Uber Technologies were worth $223,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Capital Research Global Investors boosted its stake in Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after buying an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. GQG Partners LLC boosted its position in shares of Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Uber Technologies by 1.6% during the 2nd 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 acquiring an additional 237,976 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

UBER stock opened at $71.44 on Friday. The company has a 50 day moving average price of $75.40 and a 200 day moving average price of $71.00. Uber Technologies, Inc. has a fifty-two week low of $53.15 and a fifty-two week high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $150.43 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Analysts forecast that Uber Technologies, Inc. will post 1.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on UBER shares. DA Davidson boosted their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, November 1st. Wells Fargo & Company dropped their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.32.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.84% of the company’s stock.

Uber Technologies 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.