6,620 Shares in Uber Technologies, Inc. (NYSE:UBER) Bought by Seelaus Asset Management LLC

Key Points

• Seelaus Asset Management LLC has acquired a new stake in Uber Technologies, purchasing 6,620 shares valued at approximately $482,000 during the first quarter.
• Several institutional investors increased their holdings in Uber, with 80.24% of its stock now owned by institutions and hedge funds, reflecting strong market confidence.
• Analysts have set new price targets for Uber, with Wells Fargo raising their target from $100.00 to $120.00, indicating an overall positive outlook as the stock receives a consensus rating of "Moderate Buy."

Seelaus Asset Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,620 shares of the ride-sharing company's stock, valued at approximately $482,000.

Other large investors have also made changes to their positions in the company. IPG Investment Advisors LLC grew its holdings in shares of Uber Technologies by 12.4% during the first quarter. IPG Investment Advisors LLC now owns 52,930 shares of the ride-sharing company's stock valued at $3,856,000 after buying an additional 5,843 shares during the last quarter. Probity Advisors Inc. grew its holdings in shares of Uber Technologies by 26.5% during the first quarter. Probity Advisors Inc. now owns 8,586 shares of the ride-sharing company's stock valued at $626,000 after buying an additional 1,800 shares during the last quarter. ING Groep NV grew its holdings in shares of Uber Technologies by 91.2% during the first quarter. ING Groep NV now owns 629,707 shares of the ride-sharing company's stock valued at $45,880,000 after buying an additional 300,370 shares during the last quarter. Earned Wealth Advisors LLC purchased a new stake in Uber Technologies in the first quarter valued at $396,000. Finally, NewEdge Wealth LLC boosted its holdings in Uber Technologies by 5.7% in the first quarter. NewEdge Wealth LLC now owns 367,071 shares of the ride-sharing company's stock valued at $26,745,000 after purchasing an additional 19,831 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on 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 represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

UBER has been the topic of several recent research reports. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. 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 research note on Monday, July 7th. Needham & Company LLC increased their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $100.71.

Uber Technologies Trading Up 1.6%

Shares of NYSE:UBER traded up $1.38 during mid-day trading on Tuesday, reaching $89.81. 8,673,643 shares of the company were exchanged, compared to its average volume of 22,093,041. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The firm has a market cap of $187.81 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.00 and a beta of 1.43. The firm's 50-day simple moving average is $89.12 and its 200 day simple moving average is $80.47.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS 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 company had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the company posted ($0.32) EPS. The firm's revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current 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.