Optas LLC Acquires 1,541 Shares of Uber Technologies, Inc. (NYSE:UBER)

Optas LLC lifted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 18.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,769 shares of the ride-sharing company’s stock after buying an additional 1,541 shares during the period. Optas LLC’s holdings in Uber Technologies were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after acquiring an additional 2,364,525 shares during the last quarter. Capital Research Global Investors increased its position in shares of Uber Technologies by 79.0% during 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 purchasing an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 valued at $2,621,929,000 after purchasing an additional 1,061,088 shares during the last quarter. Capital World Investors raised its holdings in Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after buying an additional 2,792,039 shares during the period. Finally, Norges Bank bought a new stake in Uber Technologies in the fourth quarter worth $1,467,754,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,384 shares of company stock valued at $3,441,071. 3.84% of the stock is currently owned by insiders.

Uber Technologies Stock Down 2.1%

Uber Technologies stock opened at $83.81 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60. The business has a fifty day moving average of $82.19 and a two-hundred day moving average of $73.99. The firm has a market cap of $175.26 billion, a P/E ratio of 18.38, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a report on Sunday. Bank of America increased their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Truist Financial boosted their target price on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. Eleven research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.39.

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.