AlphaCrest Capital Management LLC Makes New $1.85 Million Investment in Uber Technologies, Inc. (NYSE:UBER)

AlphaCrest Capital Management LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBERGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 90,152 shares of the ride-sharing company’s stock, valued at approximately $1,845,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UBER. FDx Advisors Inc. raised its stake in Uber Technologies by 20.8% in the first quarter. FDx Advisors Inc. now owns 17,747 shares of the ride-sharing company’s stock valued at $633,000 after buying an additional 3,050 shares in the last quarter. Metis Global Partners LLC purchased a new position in shares of Uber Technologies in the 1st quarter valued at about $306,000. Mount Yale Investment Advisors LLC raised its position in shares of Uber Technologies by 77.7% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 16,806 shares of the ride-sharing company’s stock worth $600,000 after acquiring an additional 7,348 shares in the last quarter. abrdn plc lifted its stake in Uber Technologies by 7.8% during the first quarter. abrdn plc now owns 169,660 shares of the ride-sharing company’s stock worth $6,087,000 after purchasing an additional 12,266 shares during the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Uber Technologies by 2.1% in the first quarter. Shell Asset Management Co. now owns 65,269 shares of the ride-sharing company’s stock valued at $2,329,000 after purchasing an additional 1,333 shares in the last quarter. 71.57% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

NYSE:UBER opened at $28.79 on Thursday. The firm’s fifty day simple moving average is $28.26 and its 200-day simple moving average is $26.42. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.33. The stock has a market cap of $57.42 billion, a PE ratio of -6.34 and a beta of 1.13. Uber Technologies, Inc. has a fifty-two week low of $19.90 and a fifty-two week high of $45.90.

Uber Technologies (NYSE:UBERGet Rating) last issued its earnings results on Tuesday, November 1st. The ride-sharing company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.44). Uber Technologies had a negative return on equity of 90.49% and a negative net margin of 30.45%. The company had revenue of $8.34 billion for the quarter, compared to analyst estimates of $8.08 billion. Analysts expect that Uber Technologies, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the transaction, the insider now directly owns 145,750 shares of the company’s stock, valued at approximately $4,373,957.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Uber Technologies news, insider Jill Hazelbaker sold 50,000 shares of Uber Technologies stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the transaction, the insider now owns 145,750 shares in the company, valued at $4,373,957.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 4,167 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $32.00, for a total transaction of $133,344.00. Following the completion of the sale, the insider now owns 142,593 shares in the company, valued at $4,562,976. The disclosure for this sale can be found here. Insiders have sold 117,267 shares of company stock valued at $3,591,206 in the last quarter. 4.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UBER shares. Raymond James raised shares of Uber Technologies from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Wednesday, August 3rd. Susquehanna upped their price objective on shares of Uber Technologies from $29.00 to $32.00 in a research note on Wednesday, August 3rd. Mizuho cut their target price on Uber Technologies from $58.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Cowen reduced their target price on Uber Technologies from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, October 24th. Finally, UBS Group dropped their price target on Uber Technologies from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Uber Technologies Company Profile

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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

Further Reading

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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