Congress Asset Management Co. Invests $99.40 Million in Uber Technologies, Inc. (NYSE:UBER)

Congress Asset Management Co. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 1,364,246 shares of the ride-sharing company's stock, valued at approximately $99,399,000. Congress Asset Management Co. owned approximately 0.07% of Uber Technologies as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of UBER. Allworth Financial LP raised its position in Uber Technologies by 8.9% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company's stock worth $1,229,000 after buying an additional 1,663 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $3,188,000. Clark Capital Management Group Inc. increased its holdings in shares of Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after purchasing an additional 399,008 shares in the last quarter. MFG Wealth Management Inc. purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $1,997,000. Finally, TigerOak Management L.L.C. purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $1,278,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UBER has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 target price on shares of Uber Technologies in a report on Wednesday, April 16th. Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company lifted their target price on shares of Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Truist Financial lifted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, TD Cowen cut their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $93.91.

Insider Activity

In related news, insider Tony West sold 23,404 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,788 shares of company stock valued at $6,517,070. 3.84% of the stock is currently owned by insiders.

Uber Technologies Price Performance

UBER traded up $0.93 on Friday, hitting $85.60. 28,140,231 shares of the company's stock were exchanged, compared to its average volume of 20,713,389. The firm has a 50-day moving average price of $80.38 and a 200-day moving average price of $73.46. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a market cap of $179.00 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.