Canvas Wealth Advisors LLC Boosts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Canvas Wealth Advisors LLC increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,814 shares of the ride-sharing company's stock after purchasing an additional 19,550 shares during the period. Uber Technologies makes up 3.6% of Canvas Wealth Advisors LLC's portfolio, making the stock its 6th biggest position. Canvas Wealth Advisors LLC's holdings in Uber Technologies were worth $14,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UBER. Transce3nd LLC bought a new stake in shares of Uber Technologies in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new stake in Uber Technologies in the 4th quarter valued at approximately $27,000. Kozak & Associates Inc. boosted its position in 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 during the last quarter. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $28,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction 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 approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UBER. Wedbush downgraded shares of Uber Technologies from an "outperform" rating to a "neutral" rating and raised their target price for the company from $80.00 to $85.00 in a research report on Thursday, May 8th. Stifel Nicolaus initiated coverage on Uber Technologies in a report on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price objective for the company. Truist Financial upped their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Bank of America increased their price target on Uber Technologies from $96.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average target price of $95.18.

Uber Technologies Stock Up 2.4%

UBER stock opened at $93.09 on Friday. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $94.38. The business has a 50-day simple moving average of $84.83 and a 200 day simple moving average of $75.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $194.67 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly 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. The company had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.

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