5,000 Shares in Uber Technologies, Inc. $UBER Purchased by Corient IA LLC

Key Points

• Corient IA LLC has acquired 5,000 shares of Uber Technologies, Inc., valued at approximately $364,000, as part of its new position in the company.
• Multiple institutional investors, including Pacer Advisors Inc. and Vanguard Group Inc., have substantially increased their stakes in Uber, indicating strong confidence in the company's outlook.
• Wall Street analysts have upgraded Uber's target stock prices, with ratings boosting from several firms leading to an average target of $102.82, reflecting a positive forecast for the company's growth.

Corient IA LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the ride-sharing company's stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Uber Technologies by 3.4% during the fourth 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 lifted its holdings in 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 worth $939,000 after buying an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies during the fourth quarter worth $395,000. Jump Financial LLC purchased a new stake in Uber Technologies during the fourth quarter worth $618,000. Finally, GeoWealth Management LLC lifted its holdings in Uber Technologies by 8.8% during the fourth quarter. GeoWealth Management LLC now owns 21,704 shares of the ride-sharing company's stock worth $1,309,000 after buying an additional 1,761 shares during the period. Institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $1.29 on Monday, hitting $93.89. The company's stock had a trading volume of 16,455,027 shares, compared to its average volume of 18,903,182. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The company has a market capitalization of $195.80 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average price of $90.33 and a 200-day moving average price of $82.27.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the firm posted $0.47 EPS. The business's revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Loop Capital restated 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. Royal Bank Of Canada increased their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Barclays reiterated an "overweight" rating and set a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies 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.