Cannell & Spears LLC Boosts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Cannell & Spears LLC boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 3,180.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 781,034 shares of the ride-sharing company’s stock after buying an additional 757,224 shares during the period. Uber Technologies makes up about 1.0% of Cannell & Spears LLC’s investment portfolio, making the stock its 29th largest holding. Cannell & Spears LLC’s holdings in Uber Technologies were worth $47,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UBER. Townsquare Capital LLC boosted its stake in Uber Technologies by 40.8% during the 3rd quarter. Townsquare Capital LLC now owns 28,093 shares of the ride-sharing company’s stock valued at $2,111,000 after purchasing an additional 8,135 shares during the last quarter. Glenmede Trust Co. NA grew its position in Uber Technologies by 29.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 24,941 shares of the ride-sharing company’s stock worth $1,875,000 after purchasing an additional 5,684 shares during the period. Fiduciary Trust Co raised its stake in Uber Technologies by 7.2% during the 3rd quarter. Fiduciary Trust Co now owns 4,730 shares of the ride-sharing company’s stock valued at $356,000 after buying an additional 319 shares during the last quarter. Financial Counselors Inc. purchased a new position in shares of Uber Technologies in the 3rd quarter worth $581,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Uber Technologies in the third quarter worth $760,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

UBER stock opened at $72.71 on Monday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The firm has a market cap of $152.09 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.89 and a beta of 1.39. The business’s fifty day simple moving average is $73.44 and its two-hundred day simple moving average is $71.76. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UBER shares. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. KGI Securities reiterated a “neutral” rating and issued a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Evercore ISI decreased their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Finally, Citigroup cut their price target on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock valued at $5,793,869 over the last quarter. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Company 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.