Abacus FCF Advisors LLC Buys New Stake in Uber Technologies, Inc. (NYSE:UBER)

Abacus FCF Advisors LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 140,323 shares of the ride-sharing company's stock, valued at approximately $8,464,000. Uber Technologies makes up approximately 1.1% of Abacus FCF Advisors LLC's holdings, making the stock its 22nd biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Uber Technologies during the 4th quarter worth about $1,467,754,000. Jennison Associates LLC boosted its position in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after buying an additional 7,137,512 shares during the period. Boston Partners bought a new position in shares of Uber Technologies during the fourth quarter valued at approximately $381,057,000. Assenagon Asset Management S.A. raised its holdings in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company's stock worth $398,809,000 after buying an additional 5,753,637 shares during the period. Finally, Montrusco Bolton Investments Inc. bought a new stake in shares of Uber Technologies during the 4th quarter worth approximately $166,072,000. Institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UBER. Benchmark reiterated a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. TD Cowen dropped their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $96.00 price target on shares of Uber Technologies in a research note on Thursday, January 2nd. Finally, JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $89.97.

Uber Technologies Stock Performance

UBER stock traded up $1.32 during trading on Friday, hitting $72.26. 16,265,909 shares of the company traded hands, compared to its average volume of 20,344,867. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The stock's 50-day simple moving average is $73.94 and its 200 day simple moving average is $71.47. The company has a market cap of $151.15 billion, a PE ratio of 15.85, a P/E/G ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 owns 22,162 shares in the company, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares of the company's stock, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock valued at $5,793,869 over the last 90 days. Corporate insiders own 3.84% of the company's stock.

Uber Technologies 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.