Formidable Asset Management LLC Buys 4,965 Shares of Uber Technologies, Inc. (NYSE:UBER)

Formidable Asset Management LLC grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 103.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,749 shares of the ride-sharing company's stock after buying an additional 4,965 shares during the period. Formidable Asset Management LLC's holdings in Uber Technologies were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock valued at $10,903,846,000 after buying an additional 2,364,525 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Uber Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares in the last quarter. Capital World Investors grew its holdings in shares of Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UBER shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $80.00 target price on shares of Uber Technologies in a report on Wednesday, April 16th. Arete Research raised shares of Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Bank of America raised their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 8th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Finally, KeyCorp lifted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.91.

Uber Technologies Stock Down 0.2%

Shares of UBER opened at $87.82 on Friday. The firm has a market capitalization of $183.64 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $93.60. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $78.17 and a 200-day moving average price of $72.51.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) earnings per share. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider now owns 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,788 shares of company stock worth $6,517,070 over the last three months. 3.84% of the stock is owned by corporate insiders.

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.

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