6,398 Shares in Uber Technologies, Inc. $UBER Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 6,398 shares of Uber Technologies, Inc. valued at approximately $466,000 during the first quarter.
• Several institutional investors have increased their stakes in Uber, with ownership now at 80.24% among such investors.
• Analysts have set new price targets for Uber, with UBS raising it to $117.00 and JPMorgan to $110.00, reflecting overall positive sentiment about the company's financial prospects.

SCS Capital Management LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,398 shares of the ride-sharing company's stock, valued at approximately $466,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Noble Wealth Management PBC bought a new stake in Uber Technologies during the 1st quarter valued at $27,000. Kozak & Associates Inc. boosted its position in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Vision Financial Markets LLC bought a new stake in Uber Technologies during the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC boosted its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its position in Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 306 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

UBER has been the topic of several recent research reports. UBS Group increased their target price on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Royal Bank Of Canada increased 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. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, Needham & Company LLC raised their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Performance

Shares of UBER stock opened at $94.72 on Friday. The firm has a market capitalization of $197.53 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. 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 business has a fifty day moving average of $92.57 and a 200 day moving average of $84.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71.

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

Insider Transactions at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,696 shares of company stock worth $4,632,774. Insiders own 3.84% of the company's stock.

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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