Cornerstone Advisors LLC Acquires Shares of 15,300 Uber Technologies, Inc. (NYSE:UBER)

Cornerstone Advisors LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,300 shares of the ride-sharing company’s stock, valued at approximately $1,150,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc. RI increased its position in shares of Uber Technologies by 9.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 111,962 shares of the ride-sharing company’s stock worth $8,415,000 after purchasing an additional 9,353 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in Uber Technologies by 3.2% during the 3rd quarter. Moran Wealth Management LLC now owns 27,970 shares of the ride-sharing company’s stock worth $2,102,000 after buying an additional 871 shares in the last quarter. Darwin Wealth Management LLC lifted its stake in shares of Uber Technologies by 42.6% during the third quarter. Darwin Wealth Management LLC now owns 26,857 shares of the ride-sharing company’s stock valued at $2,019,000 after acquiring an additional 8,025 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Uber Technologies in the 3rd quarter valued at about $327,000. Finally, First Horizon Advisors Inc. boosted its stake in Uber Technologies by 11.5% in the third quarter. First Horizon Advisors Inc. now owns 6,290 shares of the ride-sharing company’s stock valued at $473,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Thursday, October 17th. Loop Capital boosted their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, October 31st. Finally, Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $69.71 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The company has a market cap of $146.78 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 0.69 and a beta of 1.34. 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 has a 50 day simple moving average of $75.46 and a 200 day simple moving average of $71.10.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Research analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred 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 sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is owned by insiders.

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.