Boyar Asset Management Inc. Cuts Position in Uber Technologies, Inc. (NYSE:UBER)

Boyar Asset Management Inc. decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 90,766 shares of the ride-sharing company’s stock after selling 5,253 shares during the period. Uber Technologies accounts for about 4.8% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Boyar Asset Management Inc.’s holdings in Uber Technologies were worth $6,613,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of UBER. Capital Research Global Investors increased its stake in Uber Technologies by 79.0% in the fourth 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 in the last quarter. Norges Bank acquired a new stake in shares of Uber Technologies in the 4th quarter valued at about $1,467,754,000. Boston Partners bought a new stake in Uber Technologies in the 4th quarter valued at about $381,057,000. Toyota Motor Corp acquired a new position in Uber Technologies during the 4th quarter worth approximately $309,192,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Uber Technologies during the 4th quarter worth approximately $298,644,000. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $90.88 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $190.05 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.17 and a beta of 1.38. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60. The firm’s 50-day simple moving average is $84.48 and its two-hundred day simple moving average is $74.83.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) 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 quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were 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 of the company’s stock, valued at $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on UBER. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, May 7th. UBS Group raised 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. JPMorgan Chase & Co. lifted their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a report on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

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.