Moors & Cabot Inc. Has $6.58 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Moors & Cabot Inc. increased its stake in Uber Technologies by 16.8%, purchasing an additional 13,009 shares, bringing their total to 90,260 shares worth approximately $6.58 million.
• Several institutional investors have significantly raised their stakes in Uber, with Capital Research Global Investors increasing its position by 79.0%, now holding shares worth over $7 billion.
• Analyst ratings for Uber have improved, with major firms like Citigroup and Goldman Sachs raising their price targets, indicating strong investor confidence and a consensus average target price of $100.71.

Moors & Cabot Inc. lifted its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 16.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,260 shares of the ride-sharing company's stock after acquiring an additional 13,009 shares during the period. Moors & Cabot Inc.'s holdings in Uber Technologies were worth $6,576,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in Uber Technologies during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new stake in Uber Technologies during the fourth quarter worth about $27,000. Kozak & Associates Inc. grew its stake in Uber Technologies by 155.9% during 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 in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Uber Technologies by 305.1% in the 1st 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 in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UBER shares. TD Cowen reduced their price target 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. Wedbush restated a "neutral" rating and issued a $85.00 price target on shares of Uber Technologies in a research note on Friday. KeyCorp raised their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $100.71.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 transaction 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 $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm'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 sale, the insider directly owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,384 shares of company stock valued at $3,496,071. Insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 0.9%

Uber Technologies stock traded down $0.77 during mid-day trading on Friday, hitting $86.98. 15,719,480 shares of the stock were exchanged, compared to its average volume of 16,246,386. The stock has a market capitalization of $181.89 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.01 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.71. 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 firm's fifty day simple moving average is $89.12 and its two-hundred day simple moving average is $80.29.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 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 the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current 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.