Manhattan West Asset Management LLC Boosts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Manhattan West Asset Management LLC raised its holdings in Uber Technologies, Inc. (NYSE:UBER) by 97.2% in the first quarter, Holdings Channel.com reports. The fund owned 50,654 shares of the ride-sharing company’s stock after buying an additional 24,971 shares during the quarter. Manhattan West Asset Management LLC’s holdings in Uber Technologies were worth $3,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clark Capital Management Group Inc. raised its stake in shares of 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 buying an additional 399,008 shares during the last quarter. UMB Bank n.a. raised its stake in Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock valued at $890,000 after purchasing an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Uber Technologies by 65.0% in 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. Mufg Securities Americas Inc. acquired a new position in Uber Technologies in the 4th quarter valued at about $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in Uber Technologies in the 1st quarter valued at about $943,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 3.3%

Shares of Uber Technologies stock opened at $89.64 on Friday. The stock has a 50-day moving average price of $89.44 and a 200 day moving average price of $81.06. The company has a market cap of $187.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71.

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

Analysts Set New Price Targets

Several research firms have commented on UBER. Barclays restated an “overweight” rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a report on Thursday. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Loop Capital reiterated a “buy” rating and set a $105.00 target price (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 transaction, the chief financial officer owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Corporate 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.