Granite Group Advisors LLC Purchases New Shares in Uber Technologies, Inc. (NYSE:UBER)

Granite Group Advisors LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,835 shares of the ride-sharing company's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Transce3nd LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Noble Wealth Management PBC bought a new position in Uber Technologies in the first quarter valued at about $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent analyst reports. DA Davidson raised their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays raised their target price on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Royal Bank Of Canada restated an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a report on Monday, May 5th. Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Ten analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $100.26.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on 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 transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was 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 $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock valued at $3,496,071 over the last quarter. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $0.44 during midday trading on Friday, hitting $91.31. 13,845,668 shares of the company's stock were exchanged, compared to its average volume of 16,021,651. 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, Inc. has a 12 month low of $54.84 and a 12 month high of $97.71. The company's 50 day moving average price is $89.29 and its 200 day moving average price is $79.51. The firm has a market capitalization of $190.94 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40.

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

Uber Technologies Company 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.