M&T Bank Corp Boosts Holdings in Uber Technologies, Inc. (NYSE:UBER)

M&T Bank Corp increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 144.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,161 shares of the ride-sharing company's stock after acquiring an additional 221,396 shares during the quarter. M&T Bank Corp's holdings in Uber Technologies were worth $27,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares in the last quarter. Capital World Investors boosted its position in shares of Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $1,467,754,000. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UBER. DA Davidson lifted their price target on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, May 7th. The Goldman Sachs Group lifted their price target on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $96.12.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded down $1.04 during trading hours on Friday, reaching $95.36. 12,441,582 shares of the stock traded hands, compared to its average volume of 21,228,668. The company has a 50 day moving average price of $88.25 and a 200 day moving average price of $77.30. The firm has a market capitalization of $199.41 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.23 and a beta of 1.40. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion during 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 business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) EPS. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business'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 transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the business's 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,384 shares of company stock valued at $3,496,071. 3.84% of the stock is currently owned by corporate 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.