Polar Asset Management Partners Inc. Invests $33.25 Million in Uber Technologies, Inc. (NYSE:UBER)

Polar Asset Management Partners Inc. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 551,300 shares of the ride-sharing company's stock, valued at approximately $33,254,000.

Several other large investors have also bought and sold shares of UBER. Grassi Investment Management increased its holdings in shares of Uber Technologies by 0.5% in the 4th quarter. Grassi Investment Management now owns 97,925 shares of the ride-sharing company's stock worth $5,907,000 after buying an additional 500 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Uber Technologies by 3,154.4% in the 4th quarter. Avior Wealth Management LLC now owns 22,032 shares of the ride-sharing company's stock valued at $1,329,000 after purchasing an additional 21,355 shares in the last quarter. Secure Asset Management LLC purchased a new stake in Uber Technologies during the fourth quarter worth $288,000. Brighton Jones LLC lifted its position in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after buying an additional 2,474 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Uber Technologies by 11.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 4,213 shares of the ride-sharing company's stock worth $254,000 after purchasing an additional 420 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction on Monday, May 12th. The stock was 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 $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company's stock, valued at $1,662,150. This represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,788 shares of company stock valued at $6,517,070. Company insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

UBER has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Bank of America lifted their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Benchmark reiterated a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. Finally, Wedbush cut Uber Technologies from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.91.

Uber Technologies Price Performance

Shares of UBER stock traded down $4.00 on Thursday, reaching $84.26. The company's stock had a trading volume of 23,449,041 shares, compared to its average volume of 20,442,118. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The stock's fifty day simple moving average is $79.01 and its 200-day simple moving average is $72.83. The company has a market capitalization of $176.20 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

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

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.