Congress Asset Management Co. Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Congress Asset Management Co. bought a new position in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, Holdings Channel.com reports. The fund bought 1,364,246 shares of the ride-sharing company’s stock, valued at approximately $99,399,000.

A number of other institutional investors have also recently added to or reduced their stakes in UBER. Brighton Jones LLC lifted its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock worth $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC lifted its position in Uber Technologies by 65.0% in 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 period. Trust Point Inc. lifted its position in Uber Technologies by 11.0% in the fourth quarter. Trust Point Inc. now owns 4,676 shares of the ride-sharing company’s stock worth $282,000 after purchasing an additional 464 shares during the period. Mather Group LLC. lifted its position in Uber Technologies by 12.2% in the fourth quarter. Mather Group LLC. now owns 6,010 shares of the ride-sharing company’s stock worth $362,000 after purchasing an additional 653 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its position in Uber Technologies by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 73,752 shares of the ride-sharing company’s stock worth $4,449,000 after purchasing an additional 1,271 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. This represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider now owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,788 shares of company stock worth $6,517,070. Corporate insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on UBER. Truist Financial upped their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup upped their price target on Uber Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, May 8th. DA Davidson upped their price target on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 8th. TD Cowen dropped their price target on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp upped their price target on Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.91.

Uber Technologies Trading Up 1.1%

NYSE UBER opened at $85.60 on Friday. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $93.60. 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 $179.00 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The firm’s fifty day simple moving average is $80.38 and its 200-day simple moving average is $73.46.

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