Convergence Investment Partners LLC Buys New Position in Uber Technologies, Inc. (NYSE:UBER)

Convergence Investment Partners LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,675 shares of the ride-sharing company's stock, valued at approximately $559,000.

A number of other institutional investors have also made changes to their positions in UBER. Madison Asset Management LLC acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $208,000. Kidder Stephen W acquired a new position in shares of Uber Technologies in the first quarter valued at about $756,000. Vestor Capital LLC grew its stake in shares of Uber Technologies by 3,672.1% in the first quarter. Vestor Capital LLC now owns 127,120 shares of the ride-sharing company's stock valued at $9,262,000 after acquiring an additional 123,750 shares in the last quarter. Granite Group Advisors LLC acquired a new position in shares of Uber Technologies in the first quarter valued at about $207,000. Finally, Somerville Kurt F acquired a new position in shares of Uber Technologies in the first quarter valued at about $606,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Up 0.5%

UBER stock traded up $0.44 during midday trading on Friday, reaching $91.31. 13,845,668 shares of the company's stock traded hands, compared to its average volume of 22,418,553. The company has a market cap of $190.94 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.04 and a beta of 1.40. The firm's fifty day moving average price is $89.30 and its 200-day moving average price is $79.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Stifel Nicolaus began coverage on shares of Uber Technologies in a report on Wednesday, June 11th. They set a "buy" rating and a $110.00 price target for the company. TD Cowen lowered their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.26.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,496,071 over the last three months. 3.84% of the stock is owned by 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.