First Long Island Investors LLC Buys Shares of 180,158 Uber Technologies, Inc. (NYSE:UBER)

First Long Island Investors LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, Holdings Channel reports. The firm bought 180,158 shares of the ride-sharing company’s stock, valued at approximately $13,870,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Uber Technologies by 34.8% during the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after purchasing an additional 43,275,830 shares during the period. Norges Bank acquired a new position in shares of Uber Technologies during the 4th quarter valued at $1,415,778,000. Edgewood Management LLC acquired a new position in shares of Uber Technologies during the 4th quarter valued at $783,401,000. Capital Research Global Investors increased its position in shares of Uber Technologies by 28.4% during the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after purchasing an additional 8,164,816 shares during the period. Finally, Northern Trust Corp increased its position in shares of Uber Technologies by 41.0% during the 4th quarter. Northern Trust Corp now owns 17,419,446 shares of the ride-sharing company’s stock valued at $1,072,515,000 after purchasing an additional 5,063,412 shares during the period. Institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Loop Capital decreased their target price on Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Wells Fargo & Company lifted their target price on Uber Technologies from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, May 8th. Piper Sandler lifted their target price on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $81.00 target price on shares of Uber Technologies in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $84.41.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 18,750 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock valued at $42,258,297 in the last three months. 3.80% of the stock is owned by corporate insiders.

Uber Technologies Price Performance

Shares of UBER stock traded up $4.21 during trading hours on Thursday, hitting $73.48. The company had a trading volume of 26,648,877 shares, compared to its average volume of 19,038,824. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The firm has a market capitalization of $153.54 billion, a price-to-earnings ratio of 118.52, a PEG ratio of 1.56 and a beta of 1.36. The firm’s fifty day moving average is $68.37 and its 200 day moving average is $70.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies, Inc. will post 0.85 EPS for the current fiscal 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.