Pallas Capital Advisors LLC Grows Position in Uber Technologies, Inc. (NYSE:UBER)

Pallas Capital Advisors LLC increased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 471.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 85,835 shares of the ride-sharing company’s stock after buying an additional 70,817 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Uber Technologies were worth $6,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UBER. Brighton Jones LLC raised its holdings in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC raised its stake 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 valued at $939,000 after buying an additional 6,129 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Uber Technologies during the 4th quarter valued at $4,136,000. Golden State Wealth Management LLC purchased a new position in shares of Uber Technologies in the 4th quarter worth $85,000. Finally, SOA Wealth Advisors LLC. increased its position in Uber Technologies by 25.3% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,003 shares of the ride-sharing company’s stock valued at $121,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 owns 21,063 shares in the company, valued at $1,790,355. This represents a 11.55% 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 valued at $6,517,070 in the last quarter. 3.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UBER. 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. Truist Financial boosted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Citigroup upped their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Finally, KeyCorp boosted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Twelve investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $93.91.

Uber Technologies Stock Up 1.1%

Shares of UBER stock opened at $85.60 on Monday. The company’s fifty day simple moving average is $80.38 and its two-hundred day simple moving average is $73.51. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60. The stock has a market cap of $179.00 billion, a P/E ratio of 18.77, a PEG 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 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. 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 for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts predict 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.