1,032,095 Shares in Uber Technologies, Inc. $UBER Bought by Munro Partners

Key Points

• Munro Partners established a new position of 1,032,095 shares (~$96.3M) in Uber, representing about 3.0% of Munro's holdings and making UBER its 12th largest holding.
• Large institutional activity continued: Pershing Square and Norges Bank each bought new stakes worth roughly $2.21B and $2.35B respectively, Vanguard now owns 189,551,519 shares (~$17.7B), and institutions hold 80.24% of the stock.
• Uber materially beat the quarter with $3.11 EPS vs a $0.67 estimate and $13.47B revenue, showing strong margins, while analysts maintain a consensus rating of "Moderate Buy" and an average target of $108.60.

Munro Partners bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,032,095 shares of the ride-sharing company's stock, valued at approximately $96,294,000. Uber Technologies accounts for approximately 3.0% of Munro Partners' holdings, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies in the 1st quarter valued at about $2,207,743,000. Norges Bank bought a new stake in Uber Technologies in the 2nd quarter valued at approximately $2,348,319,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Vanguard Group Inc. grew its position in Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company's stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Uber Technologies by 105.9% in the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company's stock valued at $506,618,000 after buying an additional 2,807,967 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UBER has been the topic of several analyst reports. Piper Sandler set a $107.00 target price on Uber Technologies in a report on Wednesday, November 5th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a report on Wednesday, November 5th. BTIG Research reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Uber Technologies in a research report on Tuesday, November 4th. Erste Group Bank cut Uber Technologies from a "buy" rating to a "hold" rating in a research note on Friday, December 5th. Finally, Mizuho assumed coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an "outperform" rating and a $130.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have issued a Hold 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 $108.60.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. This represents a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 267,625 shares of company stock worth $26,774,660. Insiders own 3.70% of the company's stock.

Uber Technologies Trading Down 0.4%

Shares of Uber Technologies stock opened at $85.13 on Monday. The firm's 50-day moving average price is $91.78 and its two-hundred day moving average price is $91.80. The company has a market capitalization of $176.88 billion, a price-to-earnings ratio of 10.94 and a beta of 1.19. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the business posted $1.20 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 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.

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