CIBC Asset Management Inc Buys 8,871 Shares of Uber Technologies, Inc. (NYSE:UBER)

CIBC Asset Management Inc boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,787 shares of the ride-sharing company’s stock after purchasing an additional 8,871 shares during the quarter. CIBC Asset Management Inc’s holdings in Uber Technologies were worth $3,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in Uber Technologies by 7.3% in the third quarter. Commonwealth Equity Services LLC now owns 485,932 shares of the ride-sharing company’s stock worth $21,769,000 after acquiring an additional 33,250 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Uber Technologies by 14.5% in the second quarter. Great West Life Assurance Co. Can now owns 677,070 shares of the ride-sharing company’s stock worth $33,925,000 after acquiring an additional 85,588 shares in the last quarter. Accretive Wealth Partners LLC lifted its holdings in shares of Uber Technologies by 9.5% during the second quarter. Accretive Wealth Partners LLC now owns 16,321 shares of the ride-sharing company’s stock worth $818,000 after purchasing an additional 1,410 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Uber Technologies by 52.8% during the second quarter. Principal Financial Group Inc. now owns 148,010 shares of the ride-sharing company’s stock worth $7,418,000 after purchasing an additional 51,144 shares during the period. Finally, Calamos Advisors LLC lifted its holdings in shares of Uber Technologies by 28.3% during the third quarter. Calamos Advisors LLC now owns 658,271 shares of the ride-sharing company’s stock worth $29,491,000 after purchasing an additional 145,291 shares during the period. 71.37% of the stock is currently owned by institutional investors.

A number of research firms recently commented on UBER. JMP Securities lifted their target price on Uber Technologies from $77.00 to $80.00 and gave the stock a “market outperform” rating in a report on Monday, November 8th. MKM Partners reduced their price target on Uber Technologies from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, November 5th. Needham & Company LLC reduced their price target on Uber Technologies from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, January 7th. JPMorgan Chase & Co. cut their price objective on Uber Technologies from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, December 15th. Finally, UBS Group began coverage on Uber Technologies in a research report on Thursday, December 2nd. They issued a “buy” rating and a $80.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $70.13.

Shares of NYSE UBER opened at $41.51 on Friday. The stock’s 50-day moving average is $41.50 and its two-hundred day moving average is $43.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.19 and a quick ratio of 1.19. Uber Technologies, Inc. has a 1-year low of $34.88 and a 1-year high of $64.05. The company has a market cap of $80.53 billion, a price-to-earnings ratio of -31.93 and a beta of 1.31.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, November 4th. The ride-sharing company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.91). Uber Technologies had a negative return on equity of 9.53% and a negative net margin of 15.87%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter last year, the company earned ($0.62) EPS. Uber Technologies’s revenue for the quarter was up 70.6% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies, Inc. will post -1.06 earnings per share for the current fiscal year.

In other Uber Technologies news, CEO Dara Khosrowshahi acquired 200,000 shares of the company’s stock in a transaction dated Monday, November 15th. The shares were acquired at an average price of $44.92 per share, for a total transaction of $8,984,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.06% of the company’s stock.

Uber Technologies Profile

Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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