NorthCrest Asset Manangement LLC Makes New $309,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

NorthCrest Asset Manangement LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,236 shares of the ride-sharing company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds also recently made changes to their positions in UBER. Brighton Jones LLC boosted its position in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC grew its position in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the last quarter. Van ECK Associates Corp grew its position in Uber Technologies by 228.0% during the 4th quarter. Van ECK Associates Corp now owns 14,910 shares of the ride-sharing company’s stock valued at $899,000 after purchasing an additional 10,364 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Uber Technologies by 54.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 39,507 shares of the ride-sharing company’s stock valued at $2,383,000 after acquiring an additional 13,872 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Uber Technologies during the 4th quarter valued at about $395,000. Institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,384 shares of company stock worth $3,441,071. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Down 2.1%

Uber Technologies stock opened at $83.81 on Monday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60. The firm has a 50 day moving average price of $82.19 and a 200-day moving average price of $74.00. The company has a market capitalization of $175.26 billion, a P/E ratio of 18.38, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.32) EPS. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on UBER. Citigroup raised their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Stifel Nicolaus assumed coverage on shares of Uber Technologies in a report on Wednesday, June 11th. They issued a “buy” rating and a $110.00 target price for the company. TD Cowen dropped their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Wall Street Zen raised shares of Uber Technologies from a “hold” rating to a “buy” rating in a research note on Sunday. Eleven analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.39.

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.