Manhattan West Asset Management LLC Purchases New Shares in Uber Technologies, Inc. (NYSE:UBER)

Manhattan West Asset Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,683 shares of the ride-sharing company's stock, valued at approximately $1,549,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avion Wealth raised its position in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of Uber Technologies in the fourth quarter worth about $28,000. GHP Investment Advisors Inc. boosted its stake in Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 223 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies in the 4th quarter worth approximately $33,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Uber Technologies during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $82.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Arete Research upgraded Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. Truist Financial boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Citigroup reduced their price objective on Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.97.

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Uber Technologies Stock Up 1.2 %

Shares of UBER stock traded up $0.84 during trading on Monday, reaching $73.12. The company's stock had a trading volume of 12,468,447 shares, compared to its average volume of 20,348,421. The company has a market cap of $152.95 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The business has a fifty day moving average price of $73.94 and a 200-day moving average price of $71.44. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock valued at $5,793,869 over the last 90 days. 3.84% of the stock is 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.