Asset Allocation & Management Company LLC Invests $241,000 in Uber Technologies, Inc. $UBER

Key Points

• Asset Allocation & Management Company LLC has invested approximately $241,000 in Uber Technologies by acquiring 2,585 shares during the second quarter.
• Analysts have issued positive ratings for Uber, with Bank of America increasing its price target from $97.00 to $115.00 and a majority of analysts rating the stock as a "Moderate Buy."
• Insider transactions include CEO Dara Khosrowshahi selling 150,000 shares valued at approximately $15 million, indicating a 13.24% decrease in his ownership.

Asset Allocation & Management Company LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,585 shares of the ride-sharing company's stock, valued at approximately $241,000.

Several other hedge funds also recently added to or reduced their stakes in UBER. Brighton Jones LLC increased its position in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares in the last quarter. Bison Wealth LLC increased its position in Uber Technologies by 20.3% during the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after buying an additional 641 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Uber Technologies during the 4th quarter valued at about $44,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Uber Technologies by 17.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 25,888 shares of the ride-sharing company's stock valued at $1,886,000 after buying an additional 3,781 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UBER has been the topic of several recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Bank of America upped their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Roth Capital boosted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.30.

Uber Technologies Stock Up 0.8%

Shares of UBER opened at $98.37 on Friday. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $205.14 billion, a price-to-earnings ratio of 16.76 and a beta of 1.43. The stock's 50-day moving average price is $93.29 and its 200-day moving average price is $86.14.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS 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 firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company's revenue was up 18.2% 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.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 150,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. The trade was a 13.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 604,571 shares of company stock valued at $58,920,741. 3.84% of the stock is owned by 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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.