Jupiter Asset Management Ltd. Buys New Shares in Uber Technologies, Inc. (NYSE:UBER)

Jupiter Asset Management Ltd. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,142,591 shares of the ride-sharing company’s stock, valued at approximately $68,921,000.

A number of other large investors have also recently made changes to their positions in UBER. Welch & Forbes LLC grew its stake in Uber Technologies by 3.9% in the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock valued at $237,000 after buying an additional 148 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Uber Technologies by 3.5% during the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after buying an additional 150 shares during the last quarter. Canopy Partners LLC raised its holdings in Uber Technologies by 2.2% during the 3rd quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock valued at $523,000 after buying an additional 151 shares during the last quarter. Drive Wealth Management LLC increased its position in shares of Uber Technologies by 3.1% in the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock valued at $312,000 after acquiring an additional 155 shares during the period. Finally, Institute for Wealth Management LLC. lifted its stake in Uber Technologies by 2.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock worth $398,000 after acquiring an additional 155 shares during the period. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company cut their price target on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Price Performance

UBER opened at $70.52 on Wednesday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The business’s fifty day simple moving average is $71.37 and its 200-day simple moving average is $71.59. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $147.31 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.89 and a beta of 1.39.

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

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm’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 $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.