Verdence Capital Advisors LLC Purchases Shares of 4,554 Uber Technologies, Inc. (NYSE:UBER)

Verdence Capital Advisors LLC purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,554 shares of the ride-sharing company’s stock, valued at approximately $280,000.

A number of other large investors have also added to or reduced their stakes in UBER. Carmel Capital Partners LLC increased its holdings in shares of Uber Technologies by 5.2% in the fourth quarter. Carmel Capital Partners LLC now owns 18,513 shares of the ride-sharing company’s stock worth $1,140,000 after buying an additional 920 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Uber Technologies by 57.0% in the fourth quarter. Lindbrook Capital LLC now owns 3,904 shares of the ride-sharing company’s stock worth $240,000 after buying an additional 1,418 shares during the period. CRA Financial Services LLC purchased a new position in shares of Uber Technologies in the fourth quarter worth about $237,000. abrdn plc increased its holdings in shares of Uber Technologies by 78.1% in the fourth quarter. abrdn plc now owns 1,203,961 shares of the ride-sharing company’s stock worth $74,128,000 after buying an additional 527,916 shares during the period. Finally, Onyx Bridge Wealth Group LLC increased its holdings in shares of Uber Technologies by 5.7% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 9,184 shares of the ride-sharing company’s stock worth $565,000 after buying an additional 495 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UBER. Wells Fargo & Company lifted their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Citigroup raised their target price on Uber Technologies from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Uber Technologies in a research note on Thursday, February 15th. Finally, Bank of America raised their target price on Uber Technologies from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.94.

Uber Technologies Price Performance

UBER stock opened at $70.80 on Wednesday. Uber Technologies, Inc. has a 52-week low of $29.22 and a 52-week high of $82.14. The firm has a market capitalization of $147.36 billion, a price-to-earnings ratio of 82.33, a PEG ratio of 1.09 and a beta of 1.36. The firm has a 50 day moving average price of $76.92 and a 200-day moving average price of $64.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.50. Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the completion of the transaction, the insider now directly owns 107,290 shares in the company, valued at approximately $8,350,380.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares in the company, valued at approximately $13,004,465.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the sale, the insider now owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.80% of the stock is owned by company 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.