Portside Wealth Group LLC Takes $268,000 Position in Uber Technologies, Inc. (NYSE:UBER)

Portside Wealth Group LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,674 shares of the ride-sharing company’s stock, valued at approximately $268,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in shares of Uber Technologies by 79.0% during 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 purchasing an additional 52,125,476 shares in the last quarter. Norges Bank acquired a new stake in Uber Technologies during the 4th quarter valued at $1,467,754,000. Boston Partners acquired a new stake in Uber Technologies during the 4th quarter valued at $381,057,000. Toyota Motor Corp purchased a new position in shares of Uber Technologies during the 4th quarter worth $309,192,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Uber Technologies during the 4th quarter worth $298,644,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on UBER shares. DA Davidson raised their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group lifted their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Bank of America lifted their target price on Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Barclays lifted their price target on Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday, April 16th. Twelve 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.91.

Uber Technologies Stock Down 0.8%

UBER stock opened at $86.43 on Wednesday. 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 50-day moving average of $80.96 and a two-hundred day moving average of $73.71. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The stock has a market capitalization of $180.73 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data 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 previous year, the company posted ($0.32) EPS. Uber Technologies’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

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

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.