Connective Portfolio Management LLC Takes $2.26 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Connective Portfolio Management LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 31,000 shares of the ride-sharing company's stock, valued at approximately $2,259,000. Uber Technologies makes up 7.6% of Connective Portfolio Management LLC's investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds also recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares in the last quarter. GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co grew its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after buying an additional 306 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Uber Technologies during the fourth quarter worth about $27,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares in the company, valued at $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by company insiders.

Uber Technologies Stock Up 0.3%

Shares of NYSE:UBER opened at $83.73 on Friday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The company has a market cap of $175.09 billion, a PE ratio of 14.66, a P/E/G ratio of 1.06 and a beta of 1.38. 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's 50-day moving average is $83.53 and its 200 day moving average is $74.39.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the business earned ($0.32) EPS. Uber Technologies's revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on UBER shares. Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Bank of America boosted their target price on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, May 7th. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lifted their price target on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $94.39.

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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