Cornerstone Capital Inc. Buys 8,909 Shares of Uber Technologies, Inc. (NYSE:UBER)

Cornerstone Capital Inc. raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 342,445 shares of the ride-sharing company’s stock after acquiring an additional 8,909 shares during the period. Uber Technologies comprises about 2.3% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 16th largest position. Cornerstone Capital Inc.’s holdings in Uber Technologies were worth $21,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in UBER. Brown Advisory Inc. grew its position in shares of Uber Technologies by 1,108.6% in the 3rd quarter. Brown Advisory Inc. now owns 15,683,867 shares of the ride-sharing company’s stock valued at $721,301,000 after buying an additional 14,386,205 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $272,625,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $187,111,000. Winslow Capital Management LLC grew its position in shares of Uber Technologies by 33.6% in the 3rd quarter. Winslow Capital Management LLC now owns 9,062,836 shares of the ride-sharing company’s stock valued at $416,800,000 after buying an additional 2,278,252 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 124,353,537 shares of the ride-sharing company’s stock valued at $5,719,019,000 after purchasing an additional 2,067,098 shares during the period. Institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Uber Technologies from $78.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. JMP Securities reissued a “market outperform” rating and issued a $85.00 price objective on shares of Uber Technologies in a research note on Thursday, March 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price objective on shares of Uber Technologies in a research note on Thursday, February 15th. TheStreet raised Uber Technologies from a “c” rating to a “b-” rating in a research note on Wednesday, February 7th. Finally, Bank of America boosted their price objective on Uber Technologies from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.94.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now directly owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Uber Technologies news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the sale, the insider now owns 185,566 shares in the company, valued at $13,004,465.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total value of $1,556,600.00. Following the sale, the insider now owns 107,290 shares in the company, valued at approximately $8,350,380.70. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Performance

UBER stock opened at $69.05 on Friday. The firm has a market cap of $143.72 billion, a PE ratio of 80.29, a P/E/G ratio of 1.09 and a beta of 1.36. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average of $76.30 and a 200-day moving average of $64.48. Uber Technologies, Inc. has a 12-month low of $29.22 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.50. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. Uber Technologies’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 1.22 earnings per share for the current year.

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.