Ancora Advisors LLC Has $1.58 Million Position in Uber Technologies, Inc. $UBER

Key Points

• Ancora Advisors LLC has significantly increased its holdings in Uber Technologies, Inc., acquiring an additional 16,560 shares to reach a total value of approximately $1.58 million.
• Insider sales by executives included Tony West selling 3,125 shares and Jill Hazelbaker selling 31,250 shares, reflecting a notable decrease in their ownership positions.
• Wall Street analysts are optimistic about Uber, with several firms raising their price targets, indicating a consensus rating of "Moderate Buy" and a price target of approximately $102.82.

Ancora Advisors LLC increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 327.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,624 shares of the ride-sharing company's stock after purchasing an additional 16,560 shares during the period. Ancora Advisors LLC's holdings in Uber Technologies were worth $1,575,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UBER. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the 4th quarter worth approximately $27,000. Kozak & Associates Inc. raised its holdings in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the first quarter worth $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies during the first quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This represents a 1.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,696 shares of company stock valued at $4,632,774 in the last ninety days. Company insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Citigroup lifted their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Roth Capital boosted their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Susquehanna upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Price Performance

NYSE:UBER opened at $92.08 on Friday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The firm has a market capitalization of $192.03 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.07 and a beta of 1.43. The stock's 50 day moving average price is $92.43 and its two-hundred day moving average price is $83.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the firm earned $0.47 EPS. The firm's revenue was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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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