Eagle Bay Advisors LLC Has $3.47 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Eagle Bay Advisors LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,566 shares of the ride-sharing company's stock after selling 3,511 shares during the period. Uber Technologies accounts for approximately 2.9% of Eagle Bay Advisors LLC's holdings, making the stock its 9th biggest position. Eagle Bay Advisors LLC's holdings in Uber Technologies were worth $3,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clark Capital Management Group Inc. raised its holdings in shares of Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after acquiring an additional 399,008 shares during the period. UMB Bank n.a. raised its holdings in shares of Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after acquiring an additional 3,073 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $84,687,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction 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 transaction, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,384 shares of company stock worth $3,496,071. 3.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Uber Technologies from a "hold" rating to a "buy" rating in a research note on Friday. Raymond James Financial lowered shares of Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, June 18th. Bank of America upped their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. UBS Group upped their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Twelve research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $97.63.

Uber Technologies Price Performance

NYSE UBER opened at $90.57 on Friday. The company has a market capitalization of $189.40 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $97.72. The firm's 50 day moving average is $89.22 and its 200-day moving average is $78.71. 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 (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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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