Ballast Advisors LLC Purchases 3,066 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Ballast Advisors LLC increased its stake in Uber Technologies by 4.3%, owning a total of 73,671 shares valued at approximately $5.37 million.
• Institutional investors hold 80.24% of Uber's stock, indicating strong institutional interest in the company.
• Analysts have provided a mix of ratings for Uber, with a consensus rating of "Moderate Buy" and an average target price of $100.26.

Ballast Advisors LLC increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,671 shares of the ride-sharing company's stock after buying an additional 3,066 shares during the period. Uber Technologies comprises approximately 1.7% of Ballast Advisors LLC's investment portfolio, making the stock its 14th largest holding. Ballast Advisors LLC's holdings in Uber Technologies were worth $5,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Second Half Financial Partners LLC purchased a new stake in Uber Technologies during the first quarter worth approximately $274,000. Peak Asset Management LLC acquired a new stake in shares of Uber Technologies during the first quarter valued at $1,478,000. MRP Capital Investments LLC boosted its stake in Uber Technologies by 1,583.3% in the 1st quarter. MRP Capital Investments LLC now owns 2,020 shares of the ride-sharing company's stock worth $147,000 after buying an additional 1,900 shares during the last quarter. Cornerstone Advisory LLC raised its holdings in shares of Uber Technologies by 16.2% in the 1st quarter. Cornerstone Advisory LLC now owns 5,102 shares of the ride-sharing company's stock worth $372,000 after purchasing an additional 713 shares during the period. Finally, Intellus Advisors LLC purchased a new stake in shares of Uber Technologies during the 1st quarter valued at about $309,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated 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 directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,384 shares of company stock worth $3,496,071. 3.70% of the stock is currently owned by insiders.

Uber Technologies Stock Up 0.2%

NYSE UBER traded up $0.18 on Wednesday, reaching $87.29. The company had a trading volume of 7,537,819 shares, compared to its average volume of 22,253,910. The firm has a 50-day moving average of $89.16 and a 200-day moving average of $79.94. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The firm has a market capitalization of $182.53 billion, a PE ratio of 15.32, a P/E/G ratio of 1.04 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Roth Capital increased their target price on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. KeyCorp lifted their price target on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $82.00 price objective on shares of Uber Technologies in a research report on Monday, May 5th. Finally, Wedbush cut Uber Technologies from an "outperform" rating to a "neutral" rating and upped their price target for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.71.

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.