Griffin Asset Management Inc. Acquires 12,985 Shares of Uber Technologies, Inc. (NYSE:UBER)

Griffin Asset Management Inc. lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 35.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,242 shares of the ride-sharing company's stock after purchasing an additional 12,985 shares during the quarter. Griffin Asset Management Inc.'s holdings in Uber Technologies were worth $3,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Azzad Asset Management Inc. ADV boosted its position in shares of Uber Technologies by 1.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 35,133 shares of the ride-sharing company's stock worth $2,560,000 after purchasing an additional 363 shares in the last quarter. Goldstone Financial Group LLC lifted its position in Uber Technologies by 35.7% in the 1st quarter. Goldstone Financial Group LLC now owns 4,972 shares of the ride-sharing company's stock valued at $362,000 after acquiring an additional 1,308 shares in the last quarter. New England Research & Management Inc. lifted its position in Uber Technologies by 137.5% in the 1st quarter. New England Research & Management Inc. now owns 43,638 shares of the ride-sharing company's stock valued at $3,179,000 after acquiring an additional 25,263 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in Uber Technologies by 43.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 14,479 shares of the ride-sharing company's stock valued at $1,055,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Uber Technologies by 27.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,842 shares of the ride-sharing company's stock valued at $353,000 after acquiring an additional 1,054 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on UBER shares. Arete Research raised shares of Uber Technologies to a "hold" rating in a research report on Tuesday, February 18th. Fox Advisors cut shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. UBS Group lifted their price target on shares of Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wedbush lowered shares of Uber Technologies from an "outperform" rating to a "neutral" rating and lifted their price target for the company from $80.00 to $85.00 in a research note on Thursday, May 8th. Finally, KGI Securities reiterated a "neutral" rating and issued a $78.00 price target on shares of Uber Technologies in a research note on Tuesday, March 11th. Eleven equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.39.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now directly owns 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,384 shares of company stock valued at $3,441,071. Company insiders own 3.84% of the company's stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded down $1.81 on Friday, reaching $83.81. 17,974,278 shares of the stock were exchanged, compared to its average volume of 20,798,681. The firm's 50 day moving average is $82.19 and its 200-day moving average is $73.99. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $93.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The firm has a market cap of $175.26 billion, a PE ratio of 18.38, a P/E/G ratio of 0.89 and a beta of 1.38.

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

Uber Technologies 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.