Uber Technologies, Inc. (NYSE:UBER) Stock Holdings Raised by Baker Avenue Asset Management LP

Key Points

• Baker Avenue Asset Management LP increased its stock holdings in Uber Technologies by 1.8%, owning 242,390 shares valued at approximately $17.66 million as of its latest SEC filing.
• Multiple large investors, including Mengis Capital Management Inc. and Howland Capital Management LLC, also raised their stakes in Uber during the first quarter, highlighting significant institutional interest.
• Several analysts upgraded their price targets for Uber, with Bank of America raising its target from $97 to $115, emphasizing a strong buy sentiment in the market.

Baker Avenue Asset Management LP lifted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,390 shares of the ride-sharing company's stock after purchasing an additional 4,218 shares during the period. Baker Avenue Asset Management LP's holdings in Uber Technologies were worth $17,661,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors grew its stake 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 acquiring an additional 52,125,476 shares during the period. Capital World Investors grew its stake in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after acquiring an additional 2,792,039 shares during the period. Northern Trust Corp grew its stake in Uber Technologies by 9.0% in the 4th quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company's stock worth $1,117,158,000 after acquiring an additional 1,528,168 shares during the period. Pacer Advisors Inc. grew its stake in Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after acquiring an additional 6,254,898 shares during the period. Finally, Allen Investment Management LLC grew its stake in Uber Technologies by 2.8% in the 1st quarter. Allen Investment Management LLC now owns 5,304,178 shares of the ride-sharing company's stock worth $386,462,000 after acquiring an additional 142,559 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,496,071 in the last quarter. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Down 0.9%

UBER stock traded down $0.77 during trading on Friday, reaching $86.98. The stock had a trading volume of 15,719,480 shares, compared to its average volume of 16,246,386. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $97.71. 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 company has a market capitalization of $181.89 billion, a P/E ratio of 15.23, a PEG ratio of 1.01 and a beta of 1.43. The firm has a fifty day moving average price of $89.12 and a 200 day moving average price of $80.29.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. The firm's revenue was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on UBER shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Barclays boosted their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. KeyCorp boosted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Roth Capital boosted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $100.71.

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.