MV Capital Management Inc. Raises Position in Uber Technologies, Inc. (NYSE:UBER)

MV Capital Management Inc. lifted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 131.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013 shares of the ride-sharing company’s stock after purchasing an additional 575 shares during the quarter. MV Capital Management Inc.’s holdings in Uber Technologies were worth $74,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares during the period. Clark Capital Management Group Inc. boosted 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 valued at $24,280,000 after buying an additional 399,008 shares during the last quarter. UMB Bank n.a. boosted its position in Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock valued at $890,000 after buying an additional 3,073 shares during the last quarter. MFG Wealth Management Inc. acquired a new position in Uber Technologies in the 4th quarter worth approximately $1,997,000. Finally, TigerOak Management L.L.C. purchased a new position in Uber Technologies during the 4th quarter worth approximately $1,278,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 0.2%

Shares of UBER opened at $86.53 on Thursday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The stock has a market cap of $180.94 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The firm’s fifty day moving average is $81.40 and its two-hundred day moving average is $73.80. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share 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 period in the previous year, the business posted ($0.32) earnings per share. Uber Technologies’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on UBER shares. UBS Group upped their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, May 8th. KeyCorp increased their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Citigroup upped their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Wedbush lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.39.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. The trade was a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,384 shares of company stock valued at $4,872,471 in the last ninety days. 3.84% of the stock is currently owned by corporate insiders.

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.