Uber Technologies, Inc. (NYSE:UBER) Position Lifted by Cornerstone Capital Inc.

Cornerstone Capital Inc. grew its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 349,488 shares of the ride-sharing company’s stock after buying an additional 17,088 shares during the period. Uber Technologies comprises 2.5% of Cornerstone Capital Inc.’s portfolio, making the stock its 13th largest position. Cornerstone Capital Inc.’s holdings in Uber Technologies were worth $26,268,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. grew its position in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares in the last quarter. WR Wealth Planners LLC raised its position in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Uber Technologies during the first quarter worth $32,000. MCF Advisors LLC boosted its position in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares during the last quarter. Finally, Founders Capital Management bought a new position in Uber Technologies in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UBER shares. Loop Capital lifted their price target on Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada increased their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Melius Research assumed coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price for the company. Finally, Citigroup raised their target price on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.22.

Uber Technologies Stock Performance

Shares of UBER stock traded up $0.78 during mid-day trading on Tuesday, reaching $74.03. 2,902,387 shares of the company’s stock traded hands, compared to its average volume of 18,023,586. The firm has a market capitalization of $155.53 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.34. The firm has a 50 day moving average price of $75.37 and a two-hundred day moving average price of $70.86. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies, Inc. has a 12 month low of $46.68 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, research analysts forecast that Uber Technologies, Inc. will post 1.09 EPS for the current 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.