Bridgewater Advisors Inc. Acquires Shares of 6,424 Uber Technologies, Inc. (NYSE:UBER)

Bridgewater Advisors Inc. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 6,424 shares of the ride-sharing company’s stock, valued at approximately $510,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Uber Technologies by 180.7% in the first quarter. Larson Financial Group LLC now owns 7,470 shares of the ride-sharing company’s stock valued at $544,000 after acquiring an additional 4,809 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in shares of Uber Technologies by 69.1% in the first quarter. Sage Mountain Advisors LLC now owns 8,424 shares of the ride-sharing company’s stock valued at $614,000 after acquiring an additional 3,442 shares in the last quarter. PAX Financial Group LLC acquired a new position in shares of Uber Technologies in the first quarter valued at about $233,000. Wealthfront Advisers LLC grew its stake in shares of Uber Technologies by 23.2% in the first quarter. Wealthfront Advisers LLC now owns 280,621 shares of the ride-sharing company’s stock valued at $20,446,000 after acquiring an additional 52,817 shares in the last quarter. Finally, Lord & Richards Wealth Management LLC acquired a new position in shares of Uber Technologies in the first quarter valued at about $306,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on UBER. JPMorgan Chase & Co. boosted their price target on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Stifel Nicolaus started coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a “buy” rating and a $110.00 target price for the company. DA Davidson upped their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Raymond James Financial cut Uber Technologies from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, June 18th. Finally, Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $80.00 to $85.00 in a research note on Thursday, May 8th. Thirteen 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, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $97.63.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of the business’s 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 transaction, the insider directly owned 102,135 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock worth $3,496,071 over the last ninety days. Insiders own 3.70% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $92.22 on Wednesday. The company has a fifty day simple moving average of $88.76 and a 200 day simple moving average of $78.08. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $97.72. 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 company has a market cap of $192.85 billion, a P/E ratio of 16.15, a PEG ratio of 1.19 and a beta of 1.40.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion during 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%. Uber Technologies’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. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.