Envestnet Asset Management Inc. Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Envestnet Asset Management Inc. raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,143,793 shares of the ride-sharing company's stock after buying an additional 171,440 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Uber Technologies worth $301,917,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UBER. Transce3nd LLC purchased a new stake in shares of Uber Technologies in the 4th quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Uber Technologies in the 4th quarter worth $27,000. Kozak & Associates Inc. increased its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies in the 1st quarter worth $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies in the 4th quarter worth $28,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 0.9%

Shares of NYSE:UBER traded up $0.84 during trading on Tuesday, reaching $97.52. The company's stock had a trading volume of 20,566,899 shares, compared to its average volume of 23,105,740. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.60. The firm's 50 day simple moving average is $87.27 and its two-hundred day simple moving average is $76.78. The stock has a market capitalization of $203.93 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results 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 net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned ($0.32) EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer owned 21,063 shares of the company's stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 directly owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on UBER. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. KeyCorp upped their price objective on Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Barclays upped their price objective on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Wells Fargo & Company increased their price target on Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price target on Uber Technologies from $92.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $95.97.

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.