BIT Capital GmbH Has $296,000 Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• BIT Capital GmbH reduced its stake in Uber Technologies, Inc. by 83.3%, leaving them with just 4,059 shares valued at approximately $296,000.
• Several institutional investors increased their holdings in Uber, with Clark Capital Management Group Inc. boosting theirs by a staggering 11,354.8%, now owning 402,522 shares worth $24.28 million.
• Analysts have set new price targets for Uber, with Morgan Stanley raising its target to $115.00 and several other firms also adjusting their ratings, generally reflecting a positive outlook.

BIT Capital GmbH trimmed its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 83.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,059 shares of the ride-sharing company's stock after selling 20,231 shares during the period. BIT Capital GmbH's holdings in Uber Technologies were worth $296,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Transce3nd LLC acquired a new position in Uber Technologies during the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies in the 4th quarter worth about $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC acquired a new position in Uber Technologies in the 1st quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% in the 1st 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 owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies 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 directly owned 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Uber Technologies Trading Up 1.9%

Shares of UBER stock traded up $1.65 on Monday, reaching $88.56. 15,068,075 shares of the stock were exchanged, compared to its average volume of 17,033,008. The stock has a market cap of $185.20 billion, a PE ratio of 15.51, a P/E/G ratio of 1.00 and a beta of 1.43. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day moving average price of $89.12 and a 200 day moving average price of $80.47.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The firm's quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UBER has been the topic of several research reports. Sanford C. Bernstein upped their target price on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Stifel Nicolaus upped their price target on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Loop Capital reiterated a "buy" rating and set a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Roth Capital upped their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Ten analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, Uber Technologies currently has a consensus 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.