Uber Technologies, Inc. (NYSE:UBER) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,693 shares of the ride-sharing company's stock after buying an additional 8,826 shares during the period. Miracle Mile Advisors LLC's holdings in Uber Technologies were worth $3,256,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Perkins Coie Trust Co raised its position in Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the 4th quarter valued at $27,000. Avion Wealth raised its position in Uber Technologies by 96.0% in the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC purchased a new stake in Uber Technologies in the 4th quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Uber Technologies in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on UBER shares. Wells Fargo & Company upped their price target on shares of Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Wedbush downgraded shares of Uber Technologies from an "outperform" rating to a "neutral" rating and upped their price objective for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Raymond James upped their price objective on shares of Uber Technologies from $95.00 to $100.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Twelve 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.91.

Insiders Place Their Bets

In other news, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 34,884 shares of the 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 transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,788 shares of company stock valued at $6,517,070 in the last ninety days. Insiders own 3.84% of the company's stock.

Uber Technologies Price Performance

Uber Technologies stock opened at $85.60 on Monday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $93.60. The stock has a market capitalization of $179.00 billion, a P/E ratio of 18.77, a P/E/G ratio of 0.89 and a beta of 1.38. The firm's 50-day moving average is $80.38 and its two-hundred day moving average is $73.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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