Formidable Asset Management LLC Raises Holdings in Uber Technologies, Inc. (NYSE:UBER)

Formidable Asset Management LLC raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 59.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,556 shares of the ride-sharing company's stock after buying an additional 5,807 shares during the quarter. Formidable Asset Management LLC's holdings in Uber Technologies were worth $1,133,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies during the fourth quarter valued at $395,000. Royal London Asset Management Ltd. increased its position in Uber Technologies by 3.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 874,823 shares of the ride-sharing company's stock valued at $52,769,000 after acquiring an additional 29,038 shares during the last quarter. Finally, Sandy Spring Bank increased its position in Uber Technologies by 24.1% during the fourth quarter. Sandy Spring Bank now owns 39,617 shares of the ride-sharing company's stock valued at $2,390,000 after acquiring an additional 7,702 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm's 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 owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock worth $3,496,071 in the last ninety days. Corporate insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday. The Goldman Sachs Group boosted their price target on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. KeyCorp boosted their price target on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Citigroup boosted their price target on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Twelve analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.63.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $0.07 on Friday, hitting $90.57. 14,207,666 shares of the company were exchanged, compared to its average volume of 21,184,622. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $97.72. The stock has a market capitalization of $189.40 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. The company has a 50-day moving average price of $89.22 and a 200 day moving average price of $78.58. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping 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 company had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the prior year, the firm earned ($0.32) earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.