Spinnaker Trust Boosts Stake in Uber Technologies, Inc. (NYSE:UBER)

Spinnaker Trust grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,774 shares of the ride-sharing company's stock after acquiring an additional 3,140 shares during the period. Spinnaker Trust's holdings in Uber Technologies were worth $6,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Noble Wealth Management PBC acquired a new position in Uber Technologies during the 1st quarter worth $27,000. Kozak & Associates Inc. lifted its position in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in 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 purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co grew its stake in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 306 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in Uber Technologies in the fourth quarter valued at about $27,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. KeyCorp increased their target price on Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial raised their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a report on Friday, May 23rd. Stifel Nicolaus started coverage on shares of Uber Technologies in a report on Wednesday, June 11th. They set a "buy" rating and a $110.00 target price on the stock. Finally, Citigroup raised their price target 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. Twelve investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.85.

Uber Technologies Price Performance

NYSE UBER opened at $91.54 on Monday. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $94.38. The firm has a market capitalization of $191.43 billion, a PE ratio of 16.03, a P/E/G ratio of 1.16 and a beta of 1.38. The company's 50 day simple moving average is $85.16 and its 200 day simple moving average is $75.40. 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 (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company posted ($0.32) EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. The trade was a 11.55% 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 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 sale, the insider now directly owns 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

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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