PNC Financial Services Group Inc. Purchases 98,905 Shares of Uber Technologies, Inc. (NYSE:UBER)

PNC Financial Services Group Inc. grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 35.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 379,999 shares of the ride-sharing company's stock after acquiring an additional 98,905 shares during the period. PNC Financial Services Group Inc.'s holdings in Uber Technologies were worth $27,687,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in Uber Technologies in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter valued at $27,000. Kozak & Associates Inc. lifted 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 valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the first quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC raised its position 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 worth $29,000 after acquiring an additional 299 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UBER shares. Needham & Company LLC upped their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus increased their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Citigroup increased their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company increased their target price on shares of Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group raised their price objective 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. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.71.

Uber Technologies Stock Performance

Shares of UBER opened at $88.56 on Tuesday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week 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 has a 50-day moving average price of $89.12 and a 200 day moving average price of $80.47. The firm has a market capitalization of $185.20 billion, a PE ratio of 15.51, a P/E/G ratio of 1.00 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results 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. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period last year, the company posted ($0.32) earnings per share. The business's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate 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 company's stock in a transaction 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 transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.