Uber Technologies, Inc. (NYSE:UBER) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 82.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,900 shares of the ride-sharing company’s stock after purchasing an additional 12,600 shares during the period. Cornerstone Advisors LLC’s holdings in Uber Technologies were worth $1,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Jennison Associates LLC boosted its stake in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new position in shares of Uber Technologies during the 4th quarter valued at $166,072,000. Edgewood Management LLC grew its holdings in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Uber Technologies by 1,370.1% during the 4th quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after acquiring an additional 2,064,382 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $73.00 on Tuesday. The firm has a market cap of $152.51 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The stock’s fifty day moving average price is $71.16 and its 200-day moving average price is $71.61.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of recent research reports. Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Tigress Financial boosted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lowered their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wolfe Research upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup decreased their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.71.

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.