Cacti Asset Management LLC Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Cacti Asset Management LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 184,971 shares of the ride-sharing company's stock, valued at approximately $13,457,000. Uber Technologies comprises approximately 1.1% of Cacti Asset Management LLC's investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Capital Research Global Investors raised its holdings in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies during the fourth quarter worth $1,467,754,000. Jennison Associates LLC increased its holdings in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock worth $1,596,086,000 after buying an additional 7,137,512 shares during the last quarter. Boston Partners acquired a new position in Uber Technologies during the fourth quarter worth $381,057,000. Finally, Toyota Motor Corp acquired a new position in Uber Technologies during the fourth quarter worth $309,192,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. TD Cowen lowered their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. KGI Securities restated a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a report on Tuesday, March 11th. DA Davidson boosted their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.91.

Uber Technologies Price Performance

UBER traded down $0.30 on Friday, hitting $84.00. 29,036,834 shares of the stock were exchanged, compared to its average volume of 20,577,416. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $93.60. The business has a 50-day moving average of $79.34 and a two-hundred day moving average of $73.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a market capitalization of $175.66 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business 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. Uber Technologies's revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 owns 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at $1,662,150. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,788 shares of company stock valued at $6,517,070 over the last quarter. 3.84% of the stock is owned by company insiders.

Uber Technologies 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.