Grassi Investment Management Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Grassi Investment Management raised its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 15.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,525 shares of the ride-sharing company's stock after purchasing an additional 15,600 shares during the period. Grassi Investment Management's holdings in Uber Technologies were worth $8,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Uber Technologies by 1.3% in 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 in the last quarter. Capital Research Global Investors raised its position in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC lifted its stake in Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the last quarter. Capital World Investors lifted its stake in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. Finally, Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at approximately $1,467,754,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at approximately $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,788 shares of company stock valued at $6,517,070. 3.84% of the stock is owned by company insiders.

Uber Technologies Stock Performance

NYSE:UBER traded up $0.93 during mid-day trading on Friday, reaching $85.60. The stock had a trading volume of 28,140,231 shares, compared to its average volume of 20,733,672. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60. The business has a 50 day simple moving average of $80.13 and a 200 day simple moving average of $73.35. The firm has a market capitalization of $179.00 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

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

Wall Street Analysts Forecast Growth

UBER has been the subject of several recent analyst reports. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. UBS Group boosted their target price on Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $87.00 target price (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.91.

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.