Kirtland Hills Capital Management LLC Purchases New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Kirtland Hills Capital Management LLC acquired a new stake in Uber Technologies, purchasing 7,329 shares valued at approximately $551,000.
• Multiple brokerages have raised their target prices for Uber, with KeyCorp setting a target of $110.00 and Wells Fargo & Company increasing theirs to $120.00, indicating a strong outlook for the company.
• Insider trading activity reveals that executives sold a combined 40,384 shares of Uber stock in recent months, potentially impacting investor sentiment.

Kirtland Hills Capital Management LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,329 shares of the ride-sharing company's stock, valued at approximately $551,000.

A number of other institutional investors have also made changes to their positions in the stock. Clark Capital Management Group Inc. lifted its holdings in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after acquiring an additional 399,008 shares in the last quarter. UMB Bank n.a. lifted its holdings in Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after acquiring an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC lifted 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 worth $939,000 after acquiring an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in Uber Technologies during the fourth quarter worth about $1,875,000. Finally, APG Asset Management N.V. bought a new stake in shares of Uber Technologies in the fourth quarter valued at about $84,687,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded down $3.41 on Tuesday, hitting $87.19. The stock had a trading volume of 24,941,633 shares, compared to its average volume of 15,250,838. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $97.71. The business's 50 day moving average is $89.16 and its two-hundred day moving average is $79.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market cap of $182.33 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its 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 66.46% and a net margin of 27.07%. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on UBER shares. Stifel Nicolaus boosted their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday. Royal Bank Of Canada restated an "outperform" rating and issued a $82.00 price target on shares of Uber Technologies in a report on Monday, May 5th. Piper Sandler boosted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Needham & Company LLC boosted their price target on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.71.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,496,071 in the last ninety days. 3.70% of the stock is owned by company insiders.

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.