Eastern Bank Acquires 3,855 Shares of Uber Technologies, Inc. (NYSE:UBER)

Eastern Bank raised its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,354 shares of the ride-sharing company’s stock after buying an additional 3,855 shares during the quarter. Eastern Bank’s holdings in Uber Technologies were worth $15,284,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after buying an additional 3,623,951 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. GQG Partners LLC lifted its stake in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Uber Technologies by 1.6% in 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 purchasing an additional 237,976 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $0.06 during trading on Tuesday, reaching $80.52. 5,717,973 shares of the company traded hands, compared to its average volume of 17,951,734. The firm’s fifty day simple moving average is $74.53 and its 200 day simple moving average is $70.67. The stock has a market cap of $168.25 billion, a P/E ratio of 130.32, a PEG ratio of 1.37 and a beta of 1.33. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $87.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Uber Technologies, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

UBER has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 target price for the company. The Goldman Sachs Group lifted their price objective on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer lifted their price objective on Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Thursday, October 17th. Finally, Truist Financial boosted their price target on Uber Technologies from $88.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.65.

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.