Vestmark Advisory Solutions Inc. Boosts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in Uber Technologies by 493.2% during Q1, owning 90,634 shares valued at approximately $6.6 million.
• Several institutional investors, including CBIZ Investment Advisory Services LLC and Grove Bank & Trust, also raised their positions in Uber, contributing to institutional ownership of 80.24% in the company.
• Uber's stock recently opened at $91.44, and analysts have shown optimism with multiple upgrades to their price targets, solidifying a consensus rating of "Moderate Buy."

Vestmark Advisory Solutions Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 493.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,634 shares of the ride-sharing company's stock after purchasing an additional 75,354 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Uber Technologies were worth $6,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UBER. Navalign LLC raised its holdings in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after acquiring an additional 126 shares in the last quarter. Grove Bank & Trust raised its stake in Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after purchasing an additional 133 shares in the last quarter. Forum Financial Management LP raised its stake in Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its stake in shares of Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after buying an additional 145 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's 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 transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Up 0.7%

NYSE:UBER opened at $91.44 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $190.69 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.04 and a beta of 1.43. The company's 50-day simple moving average is $90.05 and its 200-day simple moving average is $81.69. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent research reports. Needham & Company LLC upped their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wells Fargo & Company decreased their price objective on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Sanford C. Bernstein raised their price objective on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. DA Davidson boosted their target price on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Wedbush lowered their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

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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