18,374 Shares in Uber Technologies, Inc. $UBER Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC acquired 18,374 shares of Uber Technologies valued at approximately $1,339,000, marking a new position in the company.
• Multiple analysts have raised their price targets for Uber Technologies, with Raymond James setting a new target of $105.00 and maintaining a "strong-buy" rating.
• Uber reported earnings surpassing analysts' expectations with $0.63 EPS for the latest quarter, alongside a revenue of $12.65 billion, which was higher than the forecasted $12.45 billion.

Redwood Investment Management LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 18,374 shares of the ride-sharing company's stock, valued at approximately $1,339,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Clark Capital Management Group Inc. grew its position in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after purchasing an additional 399,008 shares during the period. UMB Bank n.a. grew its position in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC grew its position in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Mufg Securities Americas Inc. acquired a new stake in Uber Technologies during the 4th quarter worth about $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Uber Technologies during the 1st quarter worth about $943,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James Financial increased their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Royal Bank Of Canada raised their target price on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays restated an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Trading Up 1.6%

UBER opened at $96.71 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50 day simple moving average is $91.52 and its two-hundred day simple moving average is $83.26. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The firm has a market capitalization of $201.69 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the company posted $0.47 EPS. The business's revenue was up 18.2% on a year-over-year basis. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,571 shares of company stock valued at $4,335,899 in the last ninety days. 3.70% of the stock is currently 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.

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