Morse Asset Management Inc Buys Shares of 21,295 Uber Technologies, Inc. (NYSE:UBER)

Morse Asset Management Inc purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,295 shares of the ride-sharing company’s stock, valued at approximately $1,640,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBER. Covenant Asset Management LLC lifted its stake in shares of Uber Technologies by 0.3% during the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after buying an additional 157 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after acquiring an additional 157 shares during the period. Sivia Capital Partners LLC grew its position in shares of Uber Technologies by 3.3% during the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after purchasing an additional 157 shares in the last quarter. Wellington Shields Capital Management LLC raised its stake in Uber Technologies by 6.1% during the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after purchasing an additional 159 shares during the period. Finally, Drive Wealth Management LLC boosted its stake in Uber Technologies by 3.6% in the 4th quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock worth $289,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

UBER stock traded down $1.34 during trading on Friday, reaching $64.40. The company had a trading volume of 17,379,446 shares, compared to its average volume of 14,501,722. The company has a market cap of $134.57 billion, a price-to-earnings ratio of 103.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.36. Uber Technologies, Inc. has a twelve month low of $40.09 and a twelve month high of $82.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a 50-day simple moving average of $68.58 and a 200-day simple moving average of $71.06.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent analyst reports. Melius began coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Tigress Financial raised their price objective on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Moffett Nathanson reiterated a “buy” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Thursday, April 11th. Finally, Wells Fargo & Company raised their price target on Uber Technologies from $89.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $85.97.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony West sold 89,234 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the sale, the insider now directly owns 124,945 shares in the company, valued at $8,518,750.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. Company insiders own 3.84% of the company’s stock.

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.