Clark Capital Management Group Inc. Purchases 399,008 Shares of Uber Technologies, Inc. (NYSE:UBER)

Clark Capital Management Group Inc. increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 11,354.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,522 shares of the ride-sharing company’s stock after purchasing 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Polianta Ltd acquired a new stake in shares of Uber Technologies during the fourth quarter worth $1,206,000. Allworth Financial LP increased its stake in shares of Uber Technologies by 8.9% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after purchasing an additional 1,663 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of Uber Technologies in the fourth quarter valued at about $3,188,000. Mirador Capital Partners LP increased its holdings in shares of Uber Technologies by 40.4% during the fourth quarter. Mirador Capital Partners LP now owns 85,214 shares of the ride-sharing company’s stock worth $5,140,000 after purchasing an additional 24,520 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its stake in Uber Technologies by 1,705.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock valued at $3,414,000 after purchasing an additional 53,457 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,904 shares of company stock valued at $6,027,619 in the last three months. Company insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Citigroup upped their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI lowered their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group increased their price target on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.69.

Uber Technologies Stock Down 1.5 %

Shares of NYSE UBER opened at $82.42 on Friday. The firm has a fifty day simple moving average of $74.58 and a two-hundred day simple moving average of $71.57. The firm 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 current ratio of 1.07, a quick ratio of 1.41 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 $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.