United Capital Management of KS Inc. Buys Shares of 20,091 Uber Technologies, Inc. (NYSE:UBER)

Key Points

• United Capital Management of KS Inc. has made a new investment of approximately $1.46 million in Uber Technologies, acquiring 20,091 shares.
• A number of brokerages have increased their target prices for Uber, with Citigroup raising it from $92.00 to $102.00 and Raymond James boosting it to $105.00, reflecting growing confidence in the company's stock.
• Uber's CFO sold 2,750 shares at an average price of $95.00, reducing their ownership in the company by 11.12% amid growing insider transactions.

United Capital Management of KS Inc. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,091 shares of the ride-sharing company's stock, valued at approximately $1,464,000.

Other hedge funds also recently made changes to their positions in the company. Clark Capital Management Group Inc. increased its position in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after purchasing an additional 399,008 shares during the period. UMB Bank n.a. increased its position in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC increased its position in Uber Technologies by 65.0% during 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 period. Mufg Securities Americas Inc. purchased a new position in Uber Technologies during the 4th quarter valued at $1,875,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of Uber Technologies in the 1st quarter worth about $943,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 1.4%

Shares of UBER stock traded up $1.24 on Friday, hitting $92.64. The stock had a trading volume of 15,836,668 shares, compared to its average volume of 18,822,268. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The firm has a market cap of $193.19 billion, a P/E ratio of 15.78, a PEG ratio of 1.06 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $90.19 and a two-hundred day moving average price of $81.97.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UBER shares. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. UBS Group lifted their target price on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC raised their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Morgan Stanley restated an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Wedbush dropped their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.84% of the company's stock.

Uber Technologies Profile

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.