Modus Advisors LLC Boosts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Modus Advisors LLC boosted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,617 shares of the ride-sharing company’s stock after buying an additional 2,776 shares during the period. Uber Technologies accounts for about 1.6% of Modus Advisors LLC’s portfolio, making the stock its 24th largest holding. Modus Advisors LLC’s holdings in Uber Technologies were worth $4,854,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UBER. Allworth Financial LP grew its position in Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after acquiring an additional 1,663 shares during the period. Lecap Asset Management Ltd. purchased a new position in Uber Technologies in the fourth quarter worth approximately $3,188,000. Clark Capital Management Group Inc. grew its position in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after acquiring an additional 399,008 shares during the period. Baader Bank Aktiengesellschaft grew its position in Uber Technologies by 1,705.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock worth $3,414,000 after acquiring an additional 53,457 shares during the period. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of Uber Technologies by 6.4% in the 4th quarter. Greenwood Capital Associates LLC now owns 84,658 shares of the ride-sharing company’s stock worth $5,107,000 after acquiring an additional 5,095 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 0.7%

Shares of UBER stock opened at $88.39 on Thursday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The firm has a fifty day moving average price of $79.01 and a 200-day moving average price of $72.83. The company has a market cap of $184.84 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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

Analysts Set New Price Targets

Several research firms have recently commented on UBER. Wedbush lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $85.00 in a research note on Thursday, May 8th. Bank of America raised their price target on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Piper Sandler restated an “overweight” rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Citigroup increased their price objective on Uber Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Arete Research upgraded Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.91.

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,788 shares of company stock valued at $6,517,070. 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.