Raleigh Capital Management Inc. Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Raleigh Capital Management Inc. boosted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 116.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,791 shares of the ride-sharing company’s stock after acquiring an additional 3,658 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Uber Technologies were worth $410,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after buying an additional 3,179,308 shares during the last quarter. Edgewood Management LLC lifted its stake in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the period. AMF Tjanstepension AB purchased a new position in shares of Uber Technologies during the 3rd quarter worth $163,468,000. Finally, Nordea Investment Management AB increased its stake in Uber Technologies by 1,370.1% in the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after purchasing an additional 2,064,382 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER opened at $67.79 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s 50 day moving average is $66.08 and its 200-day moving average is $70.31. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The stock has a market capitalization of $142.75 billion, a P/E ratio of 33.73, a P/E/G ratio of 0.73 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 1.91 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UBER. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Bank of America lifted their price target on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Thursday, October 31st. UBS Group upped their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group increased their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.53.

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.