Cottage Street Advisors LLC Takes $662,000 Position in Uber Technologies, Inc. (NYSE:UBER)

Cottage Street Advisors LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,092 shares of the ride-sharing company’s stock, valued at approximately $662,000.

A number of other institutional investors have also recently added to or reduced their stakes in UBER. Brighton Jones LLC grew its position in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after acquiring an additional 2,474 shares during the period. Revolve Wealth Partners LLC grew its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after acquiring an additional 6,129 shares during the period. Van ECK Associates Corp grew its position in Uber Technologies by 228.0% during the fourth quarter. Van ECK Associates Corp now owns 14,910 shares of the ride-sharing company’s stock valued at $899,000 after acquiring an additional 10,364 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies during the fourth quarter valued at about $395,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Uber Technologies by 56.5% in the fourth quarter. Venturi Wealth Management LLC now owns 3,185 shares of the ride-sharing company’s stock worth $192,000 after buying an additional 1,150 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 0.3%

Shares of Uber Technologies stock opened at $83.73 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $83.53 and its 200-day simple moving average is $74.39. The stock has a market capitalization of $175.09 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.06 and a beta of 1.38. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. Uber Technologies’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.32) EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of recent research reports. Truist Financial increased their target price on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Bank of America increased 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. UBS Group increased their target price on Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. TD Cowen lowered their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their target price on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.39.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. 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.