1858 Wealth Management LLC Purchases 7,392 Shares of Uber Technologies, Inc. (NYSE:UBER)

1858 Wealth Management LLC grew its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,377 shares of the ride-sharing company's stock after acquiring an additional 7,392 shares during the period. Uber Technologies comprises 2.1% of 1858 Wealth Management LLC's portfolio, making the stock its 14th largest position. 1858 Wealth Management LLC's holdings in Uber Technologies were worth $2,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UBER. Vanguard Group Inc. raised its holdings 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 valued at $10,903,846,000 after acquiring an additional 2,364,525 shares in the last quarter. Capital Research Global Investors raised its holdings in Uber Technologies by 79.0% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its stake in Uber Technologies by 2.5% in 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 buying an additional 1,061,088 shares in the last quarter. Capital World Investors raised its stake in Uber Technologies by 10.1% in 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 buying an additional 2,792,039 shares in the last quarter. Finally, Norges Bank bought a new position in Uber Technologies in the fourth quarter worth about $1,467,754,000. 80.24% of the stock is owned by institutional investors.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 102,135 shares of the company's stock, valued at $8,786,674.05. This 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 Stock Performance

Shares of NYSE UBER opened at $83.73 on Friday. The firm has a 50 day moving average of $83.53 and a 200 day moving average of $74.41. 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 firm has a market capitalization of $175.09 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.07 and a beta of 1.38. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $93.60.

Uber Technologies (NYSE:UBER - Get Free Report) last released 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. 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 analyst estimates of $11.61 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. Uber Technologies's revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UBER shares. Wells Fargo & Company raised their target price on Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Fox Advisors downgraded Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. Barclays increased their price objective on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. UBS Group increased their price objective on Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus initiated coverage on shares of Uber Technologies in a research note on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price target for the company. Eleven analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.39.

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.

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