Herbst Group LLC Acquires New Stake in Uber Technologies, Inc. (NYSE:UBER)

Herbst Group LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,100 shares of the ride-sharing company’s stock, valued at approximately $809,000.

Other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Avion Wealth boosted its holdings in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in Uber Technologies during the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in Uber Technologies during the fourth quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. boosted its holdings in Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’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 directly owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,788 shares of company stock worth $6,517,070 over the last ninety days. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UBER. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday, May 7th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. DA Davidson raised their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Finally, Truist Financial raised their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.91.

Uber Technologies Price Performance

NYSE:UBER opened at $84.62 on Friday. The firm has a market cap of $176.96 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $93.60. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $80.13 and its two-hundred day moving average price is $73.35.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) earnings per share. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.