Spinnaker Trust Purchases 2,284 Shares of Uber Technologies, Inc. (NYSE:UBER)

Spinnaker Trust grew its holdings in Uber Technologies, Inc. (NYSE:UBER) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 77,405 shares of the ride-sharing company’s stock after purchasing an additional 2,284 shares during the period. Spinnaker Trust’s holdings in Uber Technologies were worth $5,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UBER. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the period. Capital Research Global Investors lifted its holdings in shares of Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD raised its position in Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. GQG Partners LLC grew its position in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Uber Technologies by 1.6% in 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 period. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UBER. Bank of America boosted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen lifted their price target on shares of Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group increased their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Finally, Raymond James started coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.22.

Uber Technologies Price Performance

NYSE:UBER traded down $0.70 during mid-day trading on Wednesday, hitting $73.45. The company’s stock had a trading volume of 13,025,858 shares, compared to its average volume of 18,043,934. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $154.66 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 1.16 and a beta of 1.34. Uber Technologies, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $87.00. The stock has a fifty day moving average of $75.40 and a 200-day moving average of $70.90.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Uber Technologies, Inc. will post 1.15 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by insiders.

About Uber Technologies

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.