Bank Pictet & Cie Europe AG Boosts Position in Uber Technologies, Inc. $UBER

Bank Pictet & Cie Europe AG grew its holdings in Uber Technologies, Inc. (NYSE:UBER) by 31.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,855 shares of the ride-sharing company’s stock after acquiring an additional 77,619 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Uber Technologies were worth $32,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock worth $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after buying an additional 6,129 shares during the last quarter. Bison Wealth LLC grew its holdings in Uber Technologies by 20.3% during the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock worth $229,000 after acquiring an additional 641 shares during the period. Flputnam Investment Management Co. acquired a new stake in Uber Technologies during the first quarter worth about $264,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Uber Technologies during the first quarter valued at approximately $739,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total value of $251,125.00. Following the completion of the transaction, the insider directly owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,875 shares of company stock worth $1,348,818. Company insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

UBER has been the topic of several recent research reports. Arete Research set a $125.00 price objective on Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Piper Sandler set a $107.00 price target on shares of Uber Technologies in a report on Wednesday, November 5th. UBS Group set a $122.00 price target on shares of Uber Technologies and gave the company a “buy” rating in a research report on Wednesday, November 5th. Barclays decreased their price objective on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $110.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.82.

Uber Technologies Stock Down 0.6%

UBER stock opened at $81.66 on Friday. Uber Technologies, Inc. has a 52 week low of $60.17 and a 52 week high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $87.89 and a 200-day simple moving average of $91.33. The stock has a market capitalization of $169.68 billion, a P/E ratio of 10.50 and a beta of 1.21.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same period last year, the company posted $1.20 EPS. Uber Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Uber Technologies Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.