Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 8.6% in the 1st quarter, HoldingsChannel reports. The firm owned 61,235 shares of the ride-sharing company’s stock after buying an additional 4,844 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Uber Technologies were worth $4,462,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Clark Capital Management Group Inc. raised its position in shares of 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 worth $24,280,000 after purchasing an additional 399,008 shares during the last quarter. UMB Bank n.a. raised its position in shares of 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 worth $890,000 after purchasing an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of 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 worth $939,000 after purchasing an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Uber Technologies during the 4th quarter worth approximately $1,875,000. Finally, APG Asset Management N.V. acquired a new position in Uber Technologies in the 4th quarter valued at $84,687,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

UBER stock opened at $85.24 on Tuesday. 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, Inc. has a 12 month low of $54.84 and a 12 month high of $93.60. The firm has a market cap of $178.25 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.07 and a beta of 1.38. The company’s 50-day moving average price is $83.77 and its two-hundred day moving average price is $74.60.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the firm earned ($0.32) EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider now directly owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on UBER. Bank of America boosted their price target on Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, May 7th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Finally, KeyCorp boosted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.39.

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.