Parallel Advisors LLC Buys 5,961 Shares of Uber Technologies, Inc. (NYSE:UBER)

Parallel Advisors LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 271,132 shares of the ride-sharing company’s stock after purchasing an additional 5,961 shares during the quarter. Parallel Advisors LLC’s holdings in Uber Technologies were worth $19,755,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Uber Technologies by 30,469.5% in the first quarter. GAMMA Investing LLC now owns 1,657,784 shares of the ride-sharing company’s stock worth $120,786,000 after purchasing an additional 1,652,361 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Uber Technologies by 5.0% in the 1st quarter. AdvisorNet Financial Inc now owns 11,922 shares of the ride-sharing company’s stock worth $869,000 after acquiring an additional 570 shares during the last quarter. Howard Financial Services LTD. increased its stake in Uber Technologies by 10.9% in the first quarter. Howard Financial Services LTD. now owns 5,842 shares of the ride-sharing company’s stock worth $426,000 after purchasing an additional 575 shares during the period. Quent Capital LLC boosted its holdings in shares of Uber Technologies by 8.3% in the first quarter. Quent Capital LLC now owns 2,926 shares of the ride-sharing company’s stock valued at $213,000 after purchasing an additional 223 shares during the period. Finally, Farmers Trust Co. increased its position in Uber Technologies by 49.7% during the 1st quarter. Farmers Trust Co. now owns 67,840 shares of the ride-sharing company’s stock valued at $4,943,000 after purchasing an additional 22,517 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on UBER. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Wednesday, April 16th. TD Cowen cut their price target on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. KeyCorp lifted their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Raymond James upped their price target on Uber Technologies from $95.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.91.

Uber Technologies Stock Down 4.5%

Shares of UBER stock opened at $84.30 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $93.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market capitalization of $176.29 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 0.89 and a beta of 1.43. The company’s fifty day moving average price is $79.17 and its 200-day moving average price is $72.92.

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

Insider Activity

In other news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,788 shares of company stock worth $6,517,070. 3.84% of the stock is currently owned by company insiders.

About Uber Technologies

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.