Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Costello Asset Management INC

Key Points

• Costello Asset Management INC increased its stake in Uber Technologies by an impressive 20,642.0%, acquiring a total of 33,602 shares worth approximately $2.448 million as of the last quarter.
• Analysts have raised their price targets for Uber Technologies, with several firms like Sanford C. Bernstein and Needham & Company LLC setting targets between $109.00 and $110.00, indicating strong ratings for the stock.
• Recent insider transactions saw Jill Hazelbaker, an insider, selling 34,884 shares at an average price of $86.03, resulting in a significant 25.46% decrease in her position in the company.

Costello Asset Management INC raised its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20,642.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,602 shares of the ride-sharing company's stock after acquiring an additional 33,440 shares during the quarter. Uber Technologies accounts for about 1.0% of Costello Asset Management INC's portfolio, making the stock its 22nd biggest holding. Costello Asset Management INC's holdings in Uber Technologies were worth $2,448,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UBER. Brighton Jones LLC boosted its position in shares of Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after acquiring an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Uber Technologies during the fourth quarter worth $395,000. Sit Investment Associates Inc. lifted its position in Uber Technologies by 12.8% during the fourth quarter. Sit Investment Associates Inc. now owns 21,600 shares of the ride-sharing company's stock worth $1,303,000 after purchasing an additional 2,450 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Uber Technologies by 4.6% in the 4th quarter. Peapack Gladstone Financial Corp now owns 6,866 shares of the ride-sharing company's stock valued at $414,000 after purchasing an additional 304 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 0.0%

Shares of UBER traded up $0.00 during mid-day trading on Wednesday, hitting $89.39. The company's stock had a trading volume of 40,090,980 shares, compared to its average volume of 16,562,547. The company's 50-day moving average is $89.17 and its 200-day moving average is $80.74. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The firm has a market capitalization of $186.93 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target 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. Bank of America increased their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Finally, Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $100.71.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company'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 owned 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 link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% 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.