PNC Financial Services Group Inc. Grows Position in Uber Technologies, Inc. (NYSE:UBER)

PNC Financial Services Group Inc. raised its position in Uber Technologies, Inc. (NYSE:UBER) by 26.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,829 shares of the ride-sharing company’s stock after acquiring an additional 68,833 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Uber Technologies were worth $24,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. Price T Rowe Associates Inc. MD raised its position 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 acquiring an additional 9,996,508 shares in the last quarter. Legal & General Group Plc increased its stake in Uber Technologies by 1.6% in the second 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 last quarter. Clearbridge Investments LLC increased its stake in Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after purchasing an additional 1,076,876 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Uber Technologies by 10.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,464,780 shares of the ride-sharing company’s stock worth $615,220,000 after buying an additional 821,508 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $69.71 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $146.78 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 0.69 and a beta of 1.34. The company’s 50-day moving average price is $75.46 and its 200 day moving average price is $71.10. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00.

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

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s 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 of the company’s stock, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

UBER has been the topic of several research analyst reports. Citigroup lifted their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Truist Financial reduced their target price on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. Raymond James assumed coverage on Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. JMP Securities boosted their price objective on Uber Technologies from $80.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.32.

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.