Ascent Wealth Partners LLC Takes $1.90 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Ascent Wealth Partners LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,039 shares of the ride-sharing company’s stock, valued at approximately $1,897,000.

Other institutional investors have also recently made changes to their positions in the company. Clark Capital Management Group Inc. raised its holdings in shares of Uber Technologies by 11,354.8% during 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 purchasing an additional 399,008 shares during the period. UMB Bank n.a. raised its holdings in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock worth $890,000 after acquiring an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Uber Technologies in the 4th quarter worth about $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in shares of Uber Technologies in the 4th quarter worth about $84,687,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Performance

UBER opened at $90.74 on Thursday. The firm has a market cap of $189.75 billion, a P/E ratio of 15.89, a PEG ratio of 1.17 and a beta of 1.40. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $97.72. The company has a 50 day simple moving average of $88.90 and a two-hundred day simple moving average of $78.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

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. The business 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%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on 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 owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,384 shares of company stock valued at $3,496,071. Company insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UBER. Bank of America upped their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial lowered shares of Uber Technologies from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Loop Capital reiterated a “buy” rating and issued a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Finally, DA Davidson increased their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Thirteen investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.63.

About Uber Technologies

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.