GM Advisory Group LLC Increases Stake in Uber Technologies, Inc.

GM Advisory Group LLC has recently increased its stake in Uber Technologies, Inc. (NYSE: UBER), boosting its holdings by 11.1% in the fourth quarter, according to the firm's latest communication with the Securities and Exchange Commission (SEC). Following the purchase of an additional 10,592 shares during this period, GM Advisory Group now owns a total of 106,009 shares in the prominent ride-sharing company.

As of the end of the most recent quarter, GM Advisory Group LLC's holdings in Uber Technologies were valued at approximately $6,394,000.

Institutional Investor Activity

Recently, several other institutional investors have also adjusted their positions concerning Uber stocks. For instance, Geode Capital Management LLC increased its stake by 2.1% during the third quarter, acquiring an additional 893,652 shares. This brought their total holdings to 42,500,359 shares, worth $3,184,013,000.

Edgewood Management LLC also escalated its investment by 10.5% in the same quarter, now holding 27,552,060 shares valued at $2,070,813,000 after adding 2,627,768 shares to its portfolio.

On the other hand, Jennison Associates LLC raised its position significantly, boosting its stake by 36.9% in the fourth quarter with an additional 7,137,512 shares, totaling 26,460,312 shares worth about $1,596,086,000. Meanwhile, Janus Henderson Group PLC increased its stake by 18.3% after acquiring 2,056,273 shares in the third quarter. This boosted their holdings to 13,286,812 shares, valued at $998,767,000.

Finally, Charles Schwab Investment Management Inc. has escalated its holdings by 6.2% in the fourth quarter, currently owning 13,273,165 shares worth roughly $800,637,000. Notably, institutional investors now own 80.24% of Uber Technologies' stock.

Analyst Ratings and Price Targets

A variety of analysts have provided insights into Uber Technologies' stock, with many maintaining a positive outlook. For example, UBS Group reaffirmed a "buy" rating in their report dated February 21st. Tigress Financial increased their price target for Uber from $96.00 to $103.00, while JPMorgan Chase & Co. lowered their target price from $95.00 to $90.00 but still maintained an "overweight" rating. Additionally, DA Davidson has adjusted their target price from $84.00 to $80.00 while keeping a "buy" rating.

The consensus among analysts suggests that Uber Technologies presently holds an average rating of "Moderate Buy" with a collective price target of $90.31.

Current Market Performance

As for Uber Technologies' stock performance, it opened at $71.54, with a market capitalization of $149.45 billion. The stock has a P/E ratio of 15.69 and a PEG ratio of 0.89, exhibiting a beta of 1.39. Over the last year, Uber shares reached a low of $54.84 and a high of $87.00. The company maintains moving averages of $72.09 over the last 50 days and $71.55 over the last 200 days.

Recent Insider Transactions

Recent insider activity has also been noted, with Tony West, an insider at Uber, selling 23,404 shares on March 13th at an average price of $70.27, totaling approximately $1,644,599.08. Following this sale, their ownership now amounts to 114,241 shares valued at about $8,027,715.07. Another insider, Jill Hazelbaker, sold 31,000 shares on February 18th at an average price of $81.02, contributing to a total sale of $2,511,620.00. Post-transaction, they have 86,973 shares worth an estimated $7,046,552.46. In total, insiders sold 74,404 shares worth around $5,587,619 over the past three months, and insiders own 3.84% of the company's stock.

About Uber Technologies, Inc.

Uber Technologies, Inc. operates its proprietary technology applications across various regions including the United States, Canada, Latin America, Europe, the Middle East, Africa, and parts of Asia. The company functions through three main segments: Mobility, Delivery, and Freight. Its Mobility segment pairs consumers with numerous transportation options, including ridesharing, carsharing, micromobility services, rentals, public transit, and taxis. Additionally, it provides riders access to different vehicle types along with financial partnership products and advertising services.

Uber, Investments, Shares