Zions Bancorporation National Association UT Acquires Shares of 60,546 Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Zions Bancorporation National Association UT acquired 60,546 shares of Uber Technologies, Inc. for approximately $4.4 million during the first quarter of the year.
• Institutional investors and hedge funds collectively own 80.24% of Uber's stock, indicating significant support from these entities.
• Uber reported a quarterly revenue of $12.65 billion, exceeding estimates, while posting earnings per share (EPS) of $0.63, beating the consensus by $0.02.

Zions Bancorporation National Association UT bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 60,546 shares of the ride-sharing company's stock, valued at approximately $4,411,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Capital Research Global Investors raised its holdings in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the last quarter. Capital World Investors lifted its stake in shares of Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Northern Trust Corp boosted its holdings in shares of Uber Technologies by 9.0% during the fourth quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company's stock worth $1,117,158,000 after purchasing an additional 1,528,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after purchasing an additional 394,157 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business'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 transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Trading Up 1.2%

Uber Technologies stock traded up $1.07 during mid-day trading on Monday, hitting $90.63. 13,341,009 shares of the company's stock were exchanged, compared to its average volume of 22,339,250. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $89.44 and its 200-day simple moving average is $81.25. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The firm has a market capitalization of $189.52 billion, a P/E ratio of 15.44, a PEG ratio of 1.03 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UBER shares. DA Davidson increased their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Roth Capital boosted their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein upped their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

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.