Grove Bank & Trust Increases Stake in Uber Technologies, Inc. $UBER

Grove Bank & Trust boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 48.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,183 shares of the ride-sharing company’s stock after purchasing an additional 6,601 shares during the period. Grove Bank & Trust’s holdings in Uber Technologies were worth $1,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Overbrook Management Corp grew its holdings in shares of Uber Technologies by 0.7% during the third quarter. Overbrook Management Corp now owns 113,471 shares of the ride-sharing company’s stock valued at $11,117,000 after buying an additional 752 shares during the last quarter. New England Research & Management Inc. increased its holdings in shares of Uber Technologies by 17.9% in the third quarter. New England Research & Management Inc. now owns 26,009 shares of the ride-sharing company’s stock valued at $2,548,000 after purchasing an additional 3,940 shares during the period. Clarus Wealth Advisors purchased a new position in shares of Uber Technologies in the third quarter worth about $1,463,000. Nilsine Partners LLC lifted its holdings in shares of Uber Technologies by 4.9% during the third quarter. Nilsine Partners LLC now owns 26,125 shares of the ride-sharing company’s stock worth $2,559,000 after purchasing an additional 1,231 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its position in Uber Technologies by 17.6% in the third quarter. Aaron Wealth Advisors LLC now owns 53,997 shares of the ride-sharing company’s stock valued at $5,290,000 after buying an additional 8,088 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In other news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the sale, the insider directly owned 174,135 shares of the company’s stock, valued at $16,037,833.50. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the transaction, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 264,875 shares of company stock worth $26,501,255 over the last 90 days. 3.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. UBS Group set a $122.00 target price on shares of Uber Technologies and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wells Fargo & Company lowered their price target on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Guggenheim cut their price target on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, DA Davidson boosted their price objective on Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Uber Technologies Price Performance

NYSE:UBER opened at $81.83 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The stock’s 50-day moving average price is $91.41 and its 200-day moving average price is $91.79. The stock has a market capitalization of $170.02 billion, a PE ratio of 10.52 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Profile

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.