Cove Private Wealth LLC Makes New $231,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Cove Private Wealth LLC has made a new investment of approximately $231,000 in Uber Technologies, acquiring 3,164 shares of the company's stock during the first quarter.
• Other institutional investors, including Clark Capital Management Group and UMB Bank, have significantly increased their holdings in Uber, indicating robust interest in the company's stock.
• Uber Technologies reported $12.65 billion in revenue for the last quarter, a year-over-year increase of 18.2%, and earnings per share of $0.63, exceeding analyst expectations.

Cove Private Wealth LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,164 shares of the ride-sharing company's stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clark Capital Management Group Inc. boosted its holdings in shares of Uber Technologies by 11,354.8% in 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 during the last quarter. UMB Bank n.a. boosted its holdings in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Uber Technologies in the 4th quarter valued at $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Uber Technologies in the 1st quarter valued at $943,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $89.64 on Monday. The firm has a market cap of $187.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. The firm's 50-day simple moving average is $89.44 and its 200-day simple moving average is $81.25. 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 issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the business earned $0.47 EPS. The business's quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, 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 directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.84% of the company's stock.

Analyst Ratings Changes

UBER has been the topic of a number of research analyst reports. Susquehanna lifted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday. BMO Capital Markets lifted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday. Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and an average target price of $102.82.

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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