Peak Asset Management LLC Invests $1.48 Million in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Peak Asset Management LLC has acquired a new position in Uber Technologies, Inc. worth approximately $1.48 million, buying 20,290 shares during the first quarter.
• Insiders have recently sold a total of 40,384 shares of Uber stock, indicating a 25.46% decrease in ownership for one insider, amid a general trend of increased institutional holdings.
• Analysts have set various price targets for Uber’s stock, with a consensus target of $100.26, reflecting a moderate buy sentiment from investment analysts.

Peak Asset Management LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,290 shares of the ride-sharing company's stock, valued at approximately $1,478,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Transce3nd LLC acquired a new position in shares of Uber Technologies in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the fourth quarter valued at about $27,000. Kozak & Associates Inc. increased its position 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 during the last quarter. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the first 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 first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Wall Street Analyst Weigh In

UBER has been the topic of a number of research reports. TD Cowen lowered their price target on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a report on Friday, May 23rd. Roth Capital increased their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. KeyCorp increased their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Bank of America raised their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.71.

Uber Technologies Trading Up 0.2%

Shares of NYSE UBER traded up $0.18 during trading hours on Wednesday, reaching $87.29. The stock had a trading volume of 7,537,819 shares, compared to its average volume of 22,253,910. The business's fifty day moving average price is $89.16 and its two-hundred day moving average price is $79.94. 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 firm has a market cap of $182.53 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.04 and a beta of 1.40. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. Uber Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted ($0.32) EPS. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 sale, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company'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 transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,384 shares of company stock valued at $3,496,071. 3.70% of the stock is owned by corporate insiders.

Uber Technologies Company 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.