Monetta Financial Services Inc. Takes $1.08 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Monetta Financial Services Inc. invested approximately $1.08 million in Uber Technologies, Inc., acquiring 14,800 shares, making it the company's 26th largest holding.
• Recent trades by insiders included CFO Prashanth Mahendra-Rajah selling 2,750 shares, reducing his ownership by 11.12%, while another insider, Jill Hazelbaker, sold 34,884 shares, decreasing her stake by 25.46%.
• Uber reported strong quarterly earnings with an EPS of $0.63, surpassing estimates, and a revenue of $12.65 billion, reflecting an 18.2% year-over-year increase.

Monetta Financial Services Inc. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,800 shares of the ride-sharing company's stock, valued at approximately $1,078,000. Uber Technologies comprises 1.0% of Monetta Financial Services Inc.'s holdings, making the stock its 26th largest position.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after buying an additional 394,157 shares during the period. Coign Capital Advisors LLC boosted its holdings in Uber Technologies by 14.2% in the 1st quarter. Coign Capital Advisors LLC now owns 7,917 shares of the ride-sharing company's stock worth $577,000 after buying an additional 984 shares during the period. ASR Vermogensbeheer N.V. bought a new position in Uber Technologies in the 1st quarter worth approximately $15,650,000. Citizens Financial Group Inc. RI boosted its holdings in Uber Technologies by 3.3% in the 1st quarter. Citizens Financial Group Inc. RI now owns 126,446 shares of the ride-sharing company's stock worth $9,213,000 after buying an additional 4,019 shares during the period. Finally, Provident Investment Management Inc. boosted its holdings in Uber Technologies by 1.6% in the 1st quarter. Provident Investment Management Inc. now owns 334,246 shares of the ride-sharing company's stock worth $24,353,000 after buying an additional 5,365 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday. Needham & Company LLC boosted their price target 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. Susquehanna upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

UBER stock traded down $3.03 on Friday, hitting $89.64. The company had a trading volume of 26,183,828 shares, compared to its average volume of 18,471,660. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock's 50-day simple moving average is $89.44 and its 200 day simple moving average is $81.06. The stock has a market cap of $187.45 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.06 and a beta of 1.43.

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, topping the consensus estimate 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 the consensus estimate of $12.45 billion. During the same period last year, the firm earned $0.47 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share 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.