Cannell & Spears LLC Grows Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Cannell & Spears LLC raised its position in Uber Technologies, Inc. (NYSE:UBER) by 3,180.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,034 shares of the ride-sharing company’s stock after buying an additional 757,224 shares during the quarter. Uber Technologies comprises about 1.0% of Cannell & Spears LLC’s holdings, making the stock its 29th largest position. Cannell & Spears LLC’s holdings in Uber Technologies were worth $47,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in UBER. Avion Wealth lifted its holdings in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies in the 4th quarter valued at approximately $28,000. GHP Investment Advisors Inc. grew its stake in Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 223 shares in the last quarter. Kieckhefer Group LLC bought a new stake in Uber Technologies during the 4th quarter valued at $33,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $72.71 on Monday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The firm has a market cap of $152.09 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $73.44 and its two-hundred day simple moving average is $71.76.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UBER. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Truist Financial upped their price target on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. UBS Group reissued a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Citigroup reduced their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, DA Davidson lowered their target price on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Insider Activity at Uber Technologies

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