Elevate Capital Advisors LLC Invests $2.02 Million in Uber Technologies, Inc. (NYSE:UBER)

Elevate Capital Advisors LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,713 shares of the ride-sharing company's stock, valued at approximately $2,019,000. Uber Technologies comprises 1.9% of Elevate Capital Advisors LLC's investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors also recently made changes to their positions in UBER. ABLE Financial Group LLC increased its stake in Uber Technologies by 4.9% during the first quarter. ABLE Financial Group LLC now owns 13,262 shares of the ride-sharing company's stock valued at $966,000 after purchasing an additional 619 shares during the last quarter. Kampmann Melissa S. lifted its position in shares of Uber Technologies by 0.5% in the 1st quarter. Kampmann Melissa S. now owns 67,995 shares of the ride-sharing company's stock worth $4,954,000 after buying an additional 360 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Uber Technologies by 15.0% in the 1st quarter. Mather Group LLC. now owns 6,909 shares of the ride-sharing company's stock valued at $503,000 after buying an additional 899 shares during the period. Alta Advisers Ltd grew its position in shares of Uber Technologies by 51.4% during the 1st quarter. Alta Advisers Ltd now owns 10,610 shares of the ride-sharing company's stock valued at $773,000 after buying an additional 3,600 shares during the last quarter. Finally, Unified Investment Management bought a new stake in shares of Uber Technologies during the 1st quarter valued at about $516,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Price Performance

NYSE:UBER traded up $1.41 during mid-day trading on Friday, reaching $93.46. 8,112,562 shares of the stock were exchanged, compared to its average volume of 21,089,075. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average price of $86.59 and a 200 day moving average price of $76.09. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $94.38. The firm has a market capitalization of $195.43 billion, a PE ratio of 16.37, a PEG ratio of 1.19 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The business's revenue was up 13.8% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer directly owned 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

UBER has been the subject of a number of research reports. TD Cowen decreased their target price on Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price target on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. DA Davidson boosted their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America increased their target price on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, KGI Securities reiterated a "neutral" rating and issued a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. Twelve analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.85.

About Uber Technologies

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.