Chung Wu Investment Group LLC Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Chung Wu Investment Group LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,000 shares of the ride-sharing company’s stock, valued at approximately $219,000.

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

Uber Technologies Stock Down 0.8%

Shares of NYSE UBER opened at $90.88 on Thursday. The company has a market cap of $190.05 billion, a P/E ratio of 15.92, a PEG ratio of 1.17 and a beta of 1.38. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day simple moving average of $84.48 and a two-hundred day simple moving average of $74.83.

Uber Technologies (NYSE:UBER) last posted its quarterly 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. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) EPS. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on UBER shares. Loop Capital reiterated a “buy” rating and issued a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, June 15th. Bank of America boosted 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. Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares of the company’s stock, valued at $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 available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated 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 in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate 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.