Bank Pictet & Cie Europe AG Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Bank Pictet & Cie Europe AG grew its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 90.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,499 shares of the ride-sharing company's stock after buying an additional 5,948 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Uber Technologies were worth $911,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in UBER. Transce3nd LLC acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $27,000. Kozak & Associates Inc. raised its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

UBER stock opened at $83.81 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The firm has a market cap of $175.26 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The stock has a 50-day simple moving average of $82.19 and a 200-day simple moving average of $74.00.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm earned ($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 analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,384 shares of company stock worth $3,441,071. 3.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on UBER. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 price target on shares of Uber Technologies in a research report on Wednesday, April 16th. Barclays lifted their price target on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Raymond James lifted their price target on Uber Technologies from $95.00 to $100.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group boosted their target price on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Fox Advisors downgraded Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. Eleven research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.39.

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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