Cetera Advisors LLC bought a new position in shares of Uber Technologies Inc (NYSE:UBER) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,642 shares of the ride-sharing company’s stock, valued at approximately $353,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in Uber Technologies by 45.7% during the 4th quarter. Macquarie Group Ltd. now owns 443,433 shares of the ride-sharing company’s stock worth $13,188,000 after acquiring an additional 139,118 shares during the period. Alberta Investment Management Corp acquired a new stake in Uber Technologies during the 4th quarter worth $1,044,000. Bank of New York Mellon Corp grew its holdings in Uber Technologies by 286.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,295,450 shares of the ride-sharing company’s stock worth $68,267,000 after acquiring an additional 1,701,218 shares during the period. Avestar Capital LLC acquired a new stake in Uber Technologies during the 4th quarter worth $345,000. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Uber Technologies by 1,923.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,168,446 shares of the ride-sharing company’s stock valued at $34,750,000 after buying an additional 1,110,708 shares during the period. 60.35% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Garrett Camp sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.24, for a total value of $3,950,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 1,700,000 shares of company stock valued at $46,486,500. Company insiders own 8.66% of the company’s stock.
Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported ($0.64) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.15. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.35 billion. Uber Technologies had a negative net margin of 71.48% and a negative return on equity of 58.70%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted ($2.26) EPS. As a group, equities research analysts predict that Uber Technologies Inc will post -3.61 earnings per share for the current year.
Several equities analysts have recently issued reports on UBER shares. Goldman Sachs Group boosted their price target on shares of Uber Technologies from $41.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 8th. Lake Street Capital raised shares of Uber Technologies from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Canaccord Genuity reissued a “buy” rating and issued a $55.00 price target (up previously from $50.00) on shares of Uber Technologies in a report on Friday, February 7th. They noted that the move was a valuation call. DA Davidson raised shares of Uber Technologies from a “neutral” rating to a “buy” rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $40.00 price target on shares of Uber Technologies in a report on Tuesday, March 3rd. Five analysts have rated the stock with a hold rating and forty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $43.46.
Uber Technologies Company Profile
Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.
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