Uber Technologies, Inc. $UBER Shares Purchased by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its stake in Uber Technologies by 44.7%, adding 179,840 shares in the first quarter, bringing its total holdings to 582,362 shares valued at approximately $42.4 million.
• The stock debuted at $92.86 with a market cap of $193.65 billion, reflecting a 12-month trading range between a low of $59.33 and a high of $97.71.
• Uber's latest earnings report showed an 18.2% increase in revenue year-over-year, with earnings per share beating expectations at $0.63 compared to a forecast of $0.61.

Clark Capital Management Group Inc. grew its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 44.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 582,362 shares of the ride-sharing company's stock after buying an additional 179,840 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Uber Technologies were worth $42,431,000 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 the company. Brighton Jones LLC lifted its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC increased its position in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Uber Technologies during the 4th quarter worth approximately $395,000. Bison Wealth LLC lifted its holdings in shares of Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after buying an additional 641 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Uber Technologies by 52.2% in the fourth quarter. Baird Financial Group Inc. now owns 207,634 shares of the ride-sharing company's stock valued at $12,524,000 after buying an additional 71,206 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

UBER stock traded down $1.09 on Friday, reaching $90.89. The company had a trading volume of 20,364,649 shares, compared to its average volume of 14,781,707. The company's fifty day moving average is $92.42 and its 200 day moving average is $84.01. The company has a market cap of $189.54 billion, a P/E ratio of 15.48, a PEG ratio of 1.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UBER has been the subject of several research analyst reports. Sanford C. Bernstein increased their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Wedbush decreased their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company upped their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Insider Activity

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider directly owned 170,269 shares in the company, valued at approximately $16,175,555. This represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,696 shares of company stock worth $4,632,774. Company insiders own 3.84% of the company's stock.

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.