Worth Asset Management LLC Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Worth Asset Management LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,129 shares of the ride-sharing company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares in the last quarter. Norges Bank purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $1,415,778,000. Edgewood Management LLC purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $783,401,000. Capital Research Global Investors lifted its position in shares of Uber Technologies by 28.4% in the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after acquiring an additional 8,164,816 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Uber Technologies by 41.0% in the 4th quarter. Northern Trust Corp now owns 17,419,446 shares of the ride-sharing company’s stock valued at $1,072,515,000 after acquiring an additional 5,063,412 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Performance

Shares of UBER opened at $70.54 on Tuesday. The company has a market capitalization of $147.39 billion, a PE ratio of 113.77, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37. Uber Technologies, Inc. has a one year low of $40.09 and a one year high of $82.14. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $67.93 and its 200 day moving average price is $69.58.

Uber Technologies (NYSE:UBER) last announced its earnings results 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). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter last year, the business earned ($0.08) EPS. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that Uber Technologies, Inc. will post 0.84 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 635,984 shares of company stock worth $42,258,297. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UBER has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Uber Technologies from $95.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Tigress Financial increased their target price on shares of Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Thursday, May 16th. Loop Capital cut their target price on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Piper Sandler increased their target price on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.34.

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.