Jag Capital Management LLC Invests $15.14 Million in Uber Technologies, Inc. (NYSE:UBER)

Jag Capital Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 207,819 shares of the ride-sharing company's stock, valued at approximately $15,142,000. Uber Technologies accounts for 2.0% of Jag Capital Management LLC's investment portfolio, making the stock its 18th biggest holding.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth $27,000. Kozak & Associates Inc. grew its holdings in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies during the 1st quarter worth $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies during the 4th quarter valued at about $28,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares of the company's stock, valued at $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Loop Capital restated a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. KGI Securities restated a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a report on Tuesday, March 11th. Finally, Stifel Nicolaus assumed coverage on Uber Technologies in a report on Wednesday, June 11th. They set a "buy" rating and a $110.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.85.

Uber Technologies Stock Down 1.7%

Uber Technologies stock opened at $91.54 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $94.38. The company has a market cap of $191.43 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.38. The stock's 50 day moving average price is $85.16 and its 200 day moving average price is $75.20.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) earnings per share. On average, sell-side analysts predict 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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