Platinum Investment Management Ltd. Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Platinum Investment Management Ltd. bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,563 shares of the ride-sharing company’s stock, valued at approximately $939,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avion Wealth lifted its position in 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 purchasing an additional 218 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies in the fourth quarter worth $33,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies during the fourth quarter valued at $35,000. Finally, Fairfield Financial Advisors LTD lifted its holdings in Uber Technologies by 34.0% in the fourth quarter. Fairfield Financial Advisors LTD now owns 670 shares of the ride-sharing company’s stock valued at $40,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $71.54 on Wednesday. The stock has a market capitalization of $149.45 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The firm’s 50 day simple moving average is $72.09 and its 200-day simple moving average is $71.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,404 shares of company stock worth $5,587,619 in the last quarter. Company insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UBER shares. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.31.

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.