Azimuth Capital Investment Management LLC Purchases New Position in Uber Technologies, Inc. (NYSE:UBER)

Azimuth Capital Investment Management LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 134,055 shares of the ride-sharing company’s stock, valued at approximately $9,767,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clark Capital Management Group Inc. raised its stake in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after acquiring an additional 399,008 shares in the last quarter. UMB Bank n.a. boosted its stake in Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock valued at $890,000 after acquiring an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after purchasing an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Uber Technologies during the fourth quarter worth about $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Uber Technologies during the first quarter worth about $943,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on UBER shares. Roth Capital upped their target price on Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Stifel Nicolaus increased their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. BMO Capital Markets lifted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Bank of America increased their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Uber Technologies Stock Up 0.7%

UBER stock opened at $91.44 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The firm has a market capitalization of $190.69 billion, a PE ratio of 15.58, a P/E/G ratio of 1.04 and a beta of 1.43. The company’s 50 day simple moving average is $90.05 and its 200-day simple moving average is $81.69.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. Uber Technologies’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.