Madison Asset Management LLC Purchases New Stake in Uber Technologies, Inc. (NYSE:UBER)

Madison Asset Management LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,849 shares of the ride-sharing company's stock, valued at approximately $208,000.

A number of other hedge funds have also made changes to their positions in UBER. Noble Wealth Management PBC acquired a new position in Uber Technologies in the first quarter worth approximately $27,000. Kozak & Associates Inc. increased its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co grew its holdings in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter valued at approximately $27,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company'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 transaction of $3,001,070.52. Following the completion of the transaction, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,496,071 over the last quarter. 3.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus began coverage on Uber Technologies in a report on Wednesday, June 11th. They set a "buy" rating and a $110.00 price target on the stock. TD Cowen lowered their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC raised their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Sanford C. Bernstein raised 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.26.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $0.44 during trading on Friday, reaching $91.31. The company's stock had a trading volume of 13,845,668 shares, compared to its average volume of 16,021,651. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $190.94 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. The stock has a 50-day moving average price of $89.30 and a two-hundred day moving average price of $79.34. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates 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 company earned ($0.32) EPS. As a group, sell-side 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.