Elefante Mark B Acquires Shares of 6,180 Uber Technologies, Inc. (NYSE:UBER)

Elefante Mark B bought a new position in Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,180 shares of the ride-sharing company’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Uber Technologies by 3.4% in the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock worth $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of 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 in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies in the fourth quarter worth $395,000. Congress Wealth Management LLC DE boosted its holdings in Uber Technologies by 65.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 28,999 shares of the ride-sharing company’s stock valued at $1,749,000 after acquiring an additional 11,466 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its position in Uber Technologies by 29.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 9,426 shares of the ride-sharing company’s stock valued at $569,000 after purchasing an additional 2,143 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Up 1.1%

Uber Technologies stock opened at $90.96 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.71. The business’s fifty day moving average is $89.30 and its 200 day moving average is $79.34. The stock has a market capitalization of $190.22 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. 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 announced its quarterly 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. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm posted ($0.32) EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UBER shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Uber Technologies in a research note on Monday, May 5th. Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday. Loop Capital reiterated a “buy” rating and set a $105.00 target price (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. KeyCorp raised their target price on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, Barclays upped their price target on Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.26.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company’s stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,496,071 in the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

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.