MidAtlantic Capital Management Inc. Invests $51,000 in Uber Technologies, Inc. (NYSE:UBER)

MidAtlantic Capital Management Inc. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 683 shares of the ride-sharing company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Capital Research Global Investors raised its holdings in shares of Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Uber Technologies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after buying an additional 237,976 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Uber Technologies by 9.6% in the 2nd quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after buying an additional 1,076,876 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after buying an additional 3,179,308 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

UBER has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Monday, October 7th. Loop Capital boosted their price target on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Stock Down 5.3 %

Shares of NYSE:UBER opened at $69.34 on Tuesday. The company has a 50 day moving average price of $75.48 and a two-hundred day moving average price of $71.10. The company has a market capitalization of $146.01 billion, a PE ratio of 34.50, a PEG ratio of 0.73 and a beta of 1.34. Uber Technologies, Inc. has a 52 week low of $53.76 and a 52 week high of $87.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Analysts forecast that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by company insiders.

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.