State of Alaska Department of Revenue Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

State of Alaska Department of Revenue lifted its position in Uber Technologies, Inc. (NYSE:UBER) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 244,720 shares of the ride-sharing company’s stock after buying an additional 4,690 shares during the quarter. State of Alaska Department of Revenue’s holdings in Uber Technologies were worth $17,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its position in Uber Technologies by 8.9% during the 4th 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 last quarter. Clark Capital Management Group Inc. grew its position in 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. grew its position in 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 grew its position in 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. Finally, Mufg Securities Americas Inc. purchased a new stake in Uber Technologies during the 4th quarter worth approximately $1,875,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

UBER has been the subject of several research reports. UBS Group lifted their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. TD Cowen decreased their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Loop Capital restated a “buy” rating and set a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. DA Davidson lifted their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a research note on Friday, May 23rd. Eleven investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.39.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,441,071 over the last 90 days. 3.70% of the stock is owned by company insiders.

Uber Technologies Trading Down 0.5%

Shares of UBER stock opened at $84.71 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $177.14 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.08 and a beta of 1.38. The company has a 50-day moving average of $82.83 and a two-hundred day moving average of $74.17. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $93.60.

Uber Technologies (NYSE:UBER) last announced its 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 during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. Uber Technologies’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share. On average, analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current 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.