Cullinan Associates Inc. Has $7.83 Million Holdings in Uber Technologies, Inc. (NYSE:UBER)

Cullinan Associates Inc. lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,519 shares of the ride-sharing company’s stock after purchasing an additional 7,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Uber Technologies were worth $7,834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after purchasing an additional 2,364,525 shares during the period. Capital Research Global Investors raised 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 during the period. Geode Capital Management LLC raised its position in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Capital World Investors raised its position in shares of Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Norges Bank purchased a new stake in Uber Technologies in the 4th quarter valued at $1,467,754,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UBER has been the subject of a number of analyst reports. KeyCorp increased their price target on Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wells Fargo & Company increased their price target on Uber Technologies from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. DA Davidson increased their price target on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Bank of America increased their price target on Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.39.

Uber Technologies Stock Up 0.3%

Shares of NYSE UBER opened at $83.73 on Friday. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60. The business has a 50-day simple moving average of $83.53 and a two-hundred day simple moving average of $74.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $175.09 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.07 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the company earned ($0.32) EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was 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 owns 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is 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.