Edgestream Partners L.P. Purchases Shares of 10,112 Uber Technologies, Inc. (NYSE:UBER)

Edgestream Partners L.P. acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the third quarter, Holdings Channel reports. The institutional investor acquired 10,112 shares of the ride-sharing company’s stock, valued at approximately $760,000.

Other hedge funds have also modified their holdings of the company. Edgewood Management LLC lifted its stake in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Uber Technologies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after buying an additional 1,076,876 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after buying an additional 3,179,308 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on UBER shares. Raymond James assumed coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price target on shares of Uber Technologies in a research note on Wednesday. Oppenheimer raised their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, October 31st. Finally, KeyCorp cut their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is currently owned by insiders.

Uber Technologies Stock Performance

NYSE:UBER opened at $65.25 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm’s fifty day simple moving average is $74.86 and its 200-day simple moving average is $71.37. The stock has a market cap of $137.39 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. Analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Uber Technologies Company 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.