Cornerstone Capital Inc. Raises Holdings in Uber Technologies, Inc. (NYSE:UBER)

Cornerstone Capital Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 5.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 349,488 shares of the ride-sharing company’s stock after acquiring an additional 17,088 shares during the period. Uber Technologies makes up approximately 2.5% of Cornerstone Capital Inc.’s portfolio, making the stock its 13th largest position. Cornerstone Capital Inc.’s holdings in Uber Technologies were worth $26,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. grew its position in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC raised its position in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Uber Technologies in the 1st quarter worth approximately $32,000. MCF Advisors LLC lifted its stake in Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Finally, Founders Capital Management acquired a new position in shares of Uber Technologies during the second quarter worth approximately $33,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares in the company, valued at $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI boosted their price target on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday. Finally, Loop Capital increased their target price on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Six 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.22.

Uber Technologies Stock Up 1.1 %

Shares of UBER traded up $0.78 during trading hours on Tuesday, hitting $74.03. The company had a trading volume of 2,902,387 shares, compared to its average volume of 18,023,586. The company’s fifty day moving average price is $75.37 and its two-hundred day moving average price is $70.86. Uber Technologies, Inc. has a one year low of $46.68 and a one year high of $87.00. The company has a market capitalization of $155.53 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.34. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 1.09 earnings per share for the current fiscal year.

Uber Technologies Company Profile

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.