Abacus FCF Advisors LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Abacus FCF Advisors LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 140,323 shares of the ride-sharing company’s stock, valued at approximately $8,464,000. Uber Technologies comprises 1.1% of Abacus FCF Advisors LLC’s holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avion Wealth raised its holdings in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies during the fourth quarter worth about $28,000. GHP Investment Advisors Inc. raised its stake in shares of 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 acquiring an additional 223 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies in the 4th quarter valued at $33,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth about $35,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on UBER shares. Fox Advisors cut Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Finally, Wolfe Research raised their price target on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Ten research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.41.

Uber Technologies Stock Performance

NYSE:UBER opened at $65.60 on Tuesday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The firm has a market cap of $137.21 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a 50-day moving average of $73.68 and a 200-day moving average of $71.67. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by corporate insiders.

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.