Shikiar Asset Management Inc. Grows Holdings in Uber Technologies, Inc. (NYSE:UBER)

Shikiar Asset Management Inc. increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 151,622 shares of the ride-sharing company's stock after purchasing an additional 24,900 shares during the quarter. Uber Technologies accounts for 3.3% of Shikiar Asset Management Inc.'s holdings, making the stock its 6th biggest holding. Shikiar Asset Management Inc.'s holdings in Uber Technologies were worth $11,047,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Capital Research Global Investors increased its holdings in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in Uber Technologies during the fourth quarter worth about $1,467,754,000. Boston Partners acquired a new stake in Uber Technologies during the fourth quarter worth about $381,057,000. Toyota Motor Corp acquired a new stake in Uber Technologies during the fourth quarter worth about $309,192,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Uber Technologies during the fourth quarter worth about $298,644,000. Institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on UBER shares. Truist Financial raised their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays raised their price objective on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. DA Davidson raised their target price on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $94.39.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies 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 sale, the insider now directly owns 102,135 shares of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at approximately $1,662,150. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock valued at $3,441,071 over the last three months. 3.84% of the stock is owned by company insiders.

Uber Technologies Price Performance

UBER stock opened at $83.81 on Monday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The stock's fifty day simple moving average is $82.19 and its 200-day simple moving average is $74.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $175.26 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data 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 return on equity of 62.60% and a net margin of 22.41%. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company posted ($0.32) earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

About Uber Technologies

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.

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