Ascent Group LLC Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Ascent Group LLC boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,439 shares of the ride-sharing company’s stock after purchasing an additional 737 shares during the quarter. Ascent Group LLC’s holdings in Uber Technologies were worth $1,354,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AlphaCore Capital LLC increased its holdings in shares of Uber Technologies by 2.7% in the 4th quarter. AlphaCore Capital LLC now owns 12,566 shares of the ride-sharing company’s stock worth $758,000 after buying an additional 335 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Uber Technologies by 57.8% in the 4th quarter. Mackenzie Financial Corp now owns 847,313 shares of the ride-sharing company’s stock worth $51,110,000 after buying an additional 310,378 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of Uber Technologies by 51.4% in the 4th quarter. Forum Financial Management LP now owns 10,820 shares of the ride-sharing company’s stock worth $653,000 after buying an additional 3,674 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Uber Technologies in the 4th quarter worth about $359,000. Finally, Formidable Asset Management LLC increased its holdings in shares of Uber Technologies by 103.8% in the 4th quarter. Formidable Asset Management LLC now owns 9,749 shares of the ride-sharing company’s stock worth $588,000 after buying an additional 4,965 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

Shares of UBER opened at $87.82 on Tuesday. The company has a 50 day moving average price of $78.47 and a 200-day moving average price of $72.61. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60. The stock has a market capitalization of $183.64 billion, a PE ratio of 19.26, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the company earned ($0.32) EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,788 shares of company stock valued at $6,517,070 over the last 90 days. Insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday, April 16th. KGI Securities reiterated a “neutral” rating and set a $78.00 price target on shares of Uber Technologies in a report on Tuesday, March 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $93.91.

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.