Smith Group Asset Management LLC Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Smith Group Asset Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,420 shares of the ride-sharing company’s stock, valued at approximately $689,000.

Several other hedge funds have also added to or reduced their stakes in UBER. Kieckhefer Group LLC acquired a new position in Uber Technologies during the 4th quarter worth about $33,000. Retirement Wealth Solutions LLC bought a new stake in Uber Technologies in the fourth quarter worth approximately $35,000. Financial Management Professionals Inc. raised its stake in Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares during the period. Transcendent Capital Group LLC grew its position in Uber Technologies by 3,928.6% in the 3rd quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 550 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Uber Technologies by 84.7% in the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock valued at $45,000 after acquiring an additional 276 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on UBER shares. Piper Sandler reduced their target price on shares of Uber Technologies from $98.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, October 31st. Daiwa America downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on shares of Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.08.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Trading Down 1.0 %

UBER opened at $68.08 on Wednesday. The firm has a market capitalization of $143.35 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 0.77 and a beta of 1.36. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The business has a 50 day simple moving average of $65.83 and a two-hundred day simple moving average of $70.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts predict that Uber Technologies, Inc. will post 1.86 EPS 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.