Cresset Asset Management LLC Purchases 27,938 Shares of Uber Technologies, Inc. $UBER

Key Points

• Cresset Asset Management LLC increased its holdings in Uber Technologies by 4.1%, acquiring an additional 27,938 shares, bringing its total ownership to 707,104 shares valued at approximately $51.5 million.
• Several brokerages have upgraded their ratings and price targets for Uber, with Loop Capital raising its target price from $89 to $105 and Goldman Sachs increasing its target from $96 to $110.
• Uber reported earnings per share of $0.63, surpassing estimates, and its revenue rose by 18.2% year-over-year to $12.65 billion.

Cresset Asset Management LLC boosted its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,104 shares of the ride-sharing company's stock after buying an additional 27,938 shares during the period. Cresset Asset Management LLC's holdings in Uber Technologies were worth $51,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UBER. Noble Wealth Management PBC acquired a new position in Uber Technologies during the 1st quarter valued at about $27,000. Kozak & Associates Inc. boosted its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Uber Technologies during the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC boosted its stake in Uber Technologies by 305.1% during the 1st 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 during the last quarter. Finally, Perkins Coie Trust Co boosted its stake in Uber Technologies by 306.0% during the 1st 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. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UBER shares. DA Davidson lifted their price target on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company cut their target price on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Barclays restated an "overweight" rating and issued a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Loop Capital restated a "buy" rating and issued a $105.00 target price (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Finally, Raymond James Financial boosted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $1.24 during trading on Friday, hitting $92.64. The stock had a trading volume of 15,836,668 shares, compared to its average volume of 18,903,182. The firm has a market cap of $193.19 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.06 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The business's 50-day moving average is $90.19 and its 200 day moving average is $82.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.70% of the company's stock.

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.