Pinnacle Associates Ltd. Buys 24,307 Shares of Uber Technologies, Inc. (NYSE:UBER)

Pinnacle Associates Ltd. increased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,919 shares of the ride-sharing company's stock after acquiring an additional 24,307 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Uber Technologies were worth $8,446,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Clark Capital Management Group Inc. boosted its position in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after acquiring an additional 399,008 shares during the last quarter. UMB Bank n.a. boosted its position in Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after acquiring an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in Uber Technologies during the fourth quarter worth approximately $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in Uber Technologies during the fourth quarter worth approximately $84,687,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Activity

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The shares were 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 directly owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated 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 of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock valued at $3,496,071 over the last three months. 3.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on UBER shares. UBS Group raised their target price on shares of Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays lifted their price target on shares of Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Citigroup lifted their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, TD Cowen reduced their target price 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. Ten research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.26.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $0.44 during trading on Friday, hitting $91.31. 13,845,668 shares of the company's stock traded hands, compared to its average volume of 16,021,651. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The firm's fifty day moving average price is $89.30 and its 200 day moving average price is $79.34. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $97.71. The company has a market cap of $190.94 billion, a PE ratio of 15.99, a PEG ratio of 1.05 and a beta of 1.40.

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

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.