Hudson Canyon Capital Management Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Hudson Canyon Capital Management acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,800 shares of the ride-sharing company's stock, valued at approximately $1,807,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after buying an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $395,000. Peapack Gladstone Financial Corp increased its holdings in Uber Technologies by 4.6% during the fourth quarter. Peapack Gladstone Financial Corp now owns 6,866 shares of the ride-sharing company's stock valued at $414,000 after buying an additional 304 shares during the last quarter. Finally, FIL Ltd increased its holdings in Uber Technologies by 46.7% during the fourth quarter. FIL Ltd now owns 535,591 shares of the ride-sharing company's stock valued at $32,307,000 after buying an additional 170,507 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UBER has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Sanford C. Bernstein increased their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Finally, Bank of America upped their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Trading Up 3.8%

NYSE UBER opened at $92.59 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.11. The company has a market capitalization of $193.63 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. The company's 50-day simple moving average is $89.33 and its two-hundred day simple moving average is $80.91. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the business earned $0.47 EPS. The company's revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred 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 directly owned 102,135 shares of the company's stock, valued at approximately $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. 3.84% of the stock is owned by company 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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