Cottage Street Advisors LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Cottage Street Advisors LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,092 shares of the ride-sharing company's stock, valued at approximately $662,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter worth about $27,000. Kozak & Associates Inc. lifted its stake 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 purchasing an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co increased its stake in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in Uber Technologies during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Citigroup increased their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wedbush lowered Uber Technologies from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. Wells Fargo & Company boosted their target price on Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. UBS Group raised their price target on Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised Uber Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.39.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 value of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the business's 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Price Performance

NYSE:UBER traded up $6.35 during trading hours on Tuesday, reaching $91.59. 38,882,833 shares of the company traded hands, compared to its average volume of 20,955,097. 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 firm's 50-day moving average is $83.77 and its 200-day moving average is $74.60. The stock has a market cap of $191.53 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 1.38. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $93.60.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 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 business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned ($0.32) earnings per share. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.