Pallas Capital Advisors LLC Purchases 70,817 Shares of Uber Technologies, Inc. (NYSE:UBER)

Pallas Capital Advisors LLC boosted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 471.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,835 shares of the ride-sharing company’s stock after purchasing an additional 70,817 shares during the period. Pallas Capital Advisors LLC’s holdings in Uber Technologies were worth $6,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the period. Norges Bank purchased a new position in Uber Technologies during the 4th quarter worth $1,467,754,000. Boston Partners bought a new stake in Uber Technologies during the 4th quarter valued at $381,057,000. Toyota Motor Corp purchased a new stake in shares of Uber Technologies in the 4th quarter worth $309,192,000. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of Uber Technologies during the 4th quarter worth $298,644,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 1.1%

NYSE:UBER opened at $85.60 on Monday. The business’s 50-day moving average is $80.38 and its two-hundred day moving average is $73.51. The firm has a market capitalization of $179.00 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month 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.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UBER. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a research report on Wednesday, April 16th. Barclays lifted their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America raised their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Twelve 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.91.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the company’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 completion of the transaction, the insider now owns 102,135 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,788 shares of company stock worth $6,517,070 in the last ninety days. 3.84% of the stock is owned by insiders.

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.