Allstate Corp Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Allstate Corp purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 55,931 shares of the ride-sharing company's stock, valued at approximately $3,374,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Welch & Forbes LLC raised its stake in Uber Technologies by 3.9% during the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company's stock worth $237,000 after buying an additional 148 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in Uber Technologies by 3.5% during the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company's stock worth $282,000 after purchasing an additional 150 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Uber Technologies by 3.1% during the 4th quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company's stock worth $312,000 after buying an additional 155 shares during the period. Institute for Wealth Management LLC. lifted its stake in Uber Technologies by 2.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company's stock valued at $398,000 after buying an additional 155 shares in the last quarter. Finally, Fairfield Financial Advisors LTD boosted its holdings in shares of Uber Technologies by 34.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 670 shares of the ride-sharing company's stock valued at $40,000 after buying an additional 170 shares during the period. 80.24% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group restated a "buy" rating on shares of Uber Technologies in a report on Friday, February 21st. Arete Research upgraded Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $80.00 price objective on shares of Uber Technologies in a report on Thursday, February 6th. Wells Fargo & Company cut their target price on Uber Technologies from $90.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, Wolfe Research raised their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.31.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $0.17 during trading hours on Monday, reaching $72.92. 16,021,299 shares of the stock were exchanged, compared to its average volume of 20,081,187. The stock's fifty day simple moving average is $73.44 and its 200 day simple moving average is $71.76. The firm has a market capitalization of $152.53 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock worth $5,793,869 in the last quarter. 3.84% of the stock is currently owned by corporate 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.