PNC Financial Services Group Inc. Grows Holdings in Uber Technologies, Inc. (NYSE:UBER)

PNC Financial Services Group Inc. raised its position in Uber Technologies, Inc. (NYSE:UBER) by 26.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 326,829 shares of the ride-sharing company’s stock after buying an additional 68,833 shares during the period. PNC Financial Services Group Inc.’s holdings in Uber Technologies were worth $24,564,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after buying an additional 3,179,308 shares in the last quarter. AMF Tjanstepension AB bought a new stake in shares of Uber Technologies in the third quarter worth $163,468,000. Janus Henderson Group PLC boosted its stake in Uber Technologies by 36.3% during the 1st quarter. Janus Henderson Group PLC now owns 8,009,770 shares of the ride-sharing company’s stock valued at $616,613,000 after acquiring an additional 2,134,621 shares during the last quarter. Finally, Samlyn Capital LLC bought a new position in Uber Technologies during the 2nd quarter valued at $134,987,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 23.90 % 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. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UBER. Oppenheimer upped their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Evercore ISI upped their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Citigroup lifted their target price on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group upped their price target on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, JMP Securities boosted their target price on shares of Uber Technologies from $80.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Price Performance

NYSE UBER opened at $69.71 on Friday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The business’s fifty day moving average is $75.46 and its two-hundred day moving average is $71.10. The stock has a market capitalization of $146.78 billion, a P/E ratio of 34.68, a P/E/G ratio of 0.69 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. On average, research analysts forecast that Uber Technologies, Inc. will post 1.83 earnings per share for the current fiscal year.

Uber Technologies Company 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.