Altfest L J & Co. Inc. Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Altfest L J & Co. Inc. acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,302 shares of the ride-sharing company's stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Navalign LLC grew its position in Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after buying an additional 126 shares during the period. Grove Bank & Trust grew its position in Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP grew its position in Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its position in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after buying an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC grew its position in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of UBER opened at $92.59 on Friday. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The stock has a market cap of $193.63 billion, a PE ratio of 15.77, a P/E/G ratio of 1.03 and a beta of 1.43. The firm has a 50-day simple moving average of $89.33 and a two-hundred day simple moving average of $80.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.02.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on UBER shares. Morgan Stanley restated an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Wells Fargo & Company dropped their price target on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday. KeyCorp raised their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BMO Capital Markets raised their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Wedbush dropped their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The shares were 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 owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by company insiders.

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.

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