Polar Asset Management Partners Inc. Purchases New Position in Uber Technologies, Inc. (NYSE:UBER)

Polar Asset Management Partners Inc. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 551,300 shares of the ride-sharing company's stock, valued at approximately $33,254,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Great Valley Advisor Group Inc. raised its stake in shares of Uber Technologies by 7.2% in the 4th quarter. Great Valley Advisor Group Inc. now owns 47,831 shares of the ride-sharing company's stock valued at $2,885,000 after purchasing an additional 3,220 shares in the last quarter. United Advisor Group LLC raised its stake in Uber Technologies by 3.6% during the fourth quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company's stock valued at $263,000 after buying an additional 153 shares in the last quarter. Challenger Wealth Management bought a new position in Uber Technologies during the 4th quarter worth approximately $241,000. Ascent Group LLC grew its position in shares of Uber Technologies by 3.4% in the 4th quarter. Ascent Group LLC now owns 22,439 shares of the ride-sharing company's stock worth $1,354,000 after acquiring an additional 737 shares in the last quarter. Finally, AlphaCore Capital LLC increased its holdings in shares of Uber Technologies by 2.7% in the 4th quarter. AlphaCore Capital LLC now owns 12,566 shares of the ride-sharing company's stock valued at $758,000 after acquiring an additional 335 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. KGI Securities reiterated a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Fox Advisors downgraded Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Evercore ISI dropped their price target on Uber Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group boosted their price objective on Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $93.91.

Uber Technologies Price Performance

Shares of UBER stock traded up $1.25 during trading hours on Tuesday, reaching $89.00. 17,434,956 shares of the company were exchanged, compared to its average volume of 20,428,867. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock's fifty day moving average is $78.47 and its two-hundred day moving average is $72.61. The company has a market cap of $186.11 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction dated 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 now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,788 shares of company stock worth $6,517,070 over the last 90 days. 3.84% of the stock is owned by 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.