Inspire Trust Co. N.A. Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Inspire Trust Co. N.A. raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,000 shares of the ride-sharing company's stock after buying an additional 14,895 shares during the period. Inspire Trust Co. N.A.'s holdings in Uber Technologies were worth $2,835,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UBER. Avion Wealth grew its position in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock valued at $26,000 after buying an additional 218 shares during the period. Transce3nd LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Uber Technologies during the 4th quarter valued at $28,000. GHP Investment Advisors Inc. increased its stake in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 223 shares in the last quarter. Finally, Legacy Investment Solutions LLC raised its holdings in Uber Technologies by 3,038.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 565 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 547 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark reissued a "hold" rating on shares of Uber Technologies in a report on Friday, January 31st. Evercore ISI lowered their price objective on Uber Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group increased their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Raymond James lifted their price target on shares of Uber Technologies from $95.00 to $100.00 and gave the company a "strong-buy" rating in a report on Thursday, May 8th. Finally, Wedbush lowered shares of Uber Technologies from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.69.

Insiders Place Their Bets

In other news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. 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 the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company's stock, valued at $1,662,150. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,788 shares of company stock valued at $6,517,070 over the last ninety days. 3.84% of the stock is owned by insiders.

Uber Technologies Price Performance

Uber Technologies stock opened at $88.56 on Thursday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm's fifty day moving average is $77.54 and its 200 day moving average is $72.32. The company has a market cap of $185.18 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.89 and a beta of 1.43.

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

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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