Clark Capital Management Group Inc. Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Clark Capital Management Group Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 11,354.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,522 shares of the ride-sharing company’s stock after acquiring an additional 399,008 shares during the period. Clark Capital Management Group Inc.’s holdings in Uber Technologies were worth $24,280,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in UBER. Vanguard Group Inc. increased its holdings in shares of Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after acquiring an additional 2,364,525 shares during the period. Capital Research Global Investors increased its position in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC lifted its position in Uber Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after acquiring an additional 1,061,088 shares during the period. Capital World Investors increased its holdings in shares of Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. This trade represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 23,404 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares in the company, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,904 shares of company stock worth $6,027,619 over the last quarter. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UBER shares. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Wednesday. The Goldman Sachs Group raised their price target on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $85.00 in a research report on Thursday. DA Davidson upped their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $82.42 on Friday. The stock has a fifty day moving average of $74.58 and a 200-day moving average of $71.57. The company has a market capitalization of $172.41 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data 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. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Company 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.