Merit Financial Group LLC Takes $267,000 Position in Uber Technologies, Inc. (NYSE:UBER)

Merit Financial Group LLC bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,344 shares of the ride-sharing company’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA bought a new position in shares of Uber Technologies during the third quarter worth about $272,625,000. Jericho Capital Asset Management L.P. bought a new position in Uber Technologies during the 3rd quarter worth approximately $187,111,000. Winslow Capital Management LLC lifted its position in shares of Uber Technologies by 33.6% in the 3rd quarter. Winslow Capital Management LLC now owns 9,062,836 shares of the ride-sharing company’s stock worth $416,800,000 after purchasing an additional 2,278,252 shares during the period. Vanguard Group Inc. boosted its stake in shares of Uber Technologies by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 124,353,537 shares of the ride-sharing company’s stock valued at $5,719,019,000 after purchasing an additional 2,067,098 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Uber Technologies by 206.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,947,826 shares of the ride-sharing company’s stock valued at $135,571,000 after purchasing an additional 1,987,003 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of analyst reports. Argus lifted their target price on shares of Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Tigress Financial lifted their price objective on Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday. Wells Fargo & Company raised their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price target on Uber Technologies from $59.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $82.55.

Uber Technologies Stock Performance

UBER stock opened at $66.40 on Thursday. The business has a 50 day moving average of $74.80 and a 200-day moving average of $65.83. The firm has a market cap of $138.20 billion, a PE ratio of 77.21, a P/E/G ratio of 1.09 and a beta of 1.39. Uber Technologies, Inc. has a 12-month low of $37.07 and a 12-month high of $82.14. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.79.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.50. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 1.23 earnings per share for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of Uber Technologies stock in a transaction dated 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 sale, the insider now owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the transaction, the insider now owns 185,566 shares in the company, valued at approximately $13,004,465.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 107,290 shares in the company, 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.

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.