Harvard Management Co. Inc. Makes New $64.48 Million Investment in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Harvard Management Co. Inc. acquired 885,000 shares of Uber Technologies, valued at approximately $64.5 million, making it the company's 7th largest investment holding.
• Several large investors, including Brighton Jones LLC and Revolve Wealth Partners LLC, have recently adjusted their stakes in Uber Technologies, reflecting a growing interest among institutional investors.
• Uber's stock has received upgrades and target price increases from multiple research firms, with a consensus target price now set at $100.71 and a rating of "Moderate Buy."

Harvard Management Co. Inc. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 885,000 shares of the ride-sharing company's stock, valued at approximately $64,481,000. Uber Technologies makes up 5.7% of Harvard Management Co. Inc.'s holdings, making the stock its 7th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hemington Wealth Management raised its position in Uber Technologies by 11.7% in the first quarter. Hemington Wealth Management now owns 1,944 shares of the ride-sharing company's stock valued at $141,000 after purchasing an additional 204 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC bought a new position in Uber Technologies in the 1st quarter valued at approximately $264,000. Exencial Wealth Advisors LLC boosted its position in Uber Technologies by 118.4% during the 1st quarter. Exencial Wealth Advisors LLC now owns 16,974 shares of the ride-sharing company's stock worth $1,237,000 after buying an additional 9,203 shares during the period. Vanguard Group Inc. grew its holdings in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Finally, Palacios Wealth Management LLC increased its position in Uber Technologies by 2.2% in the 1st quarter. Palacios Wealth Management LLC now owns 24,471 shares of the ride-sharing company's stock valued at $1,783,000 after acquiring an additional 523 shares during the period. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded up $0.00 during mid-day trading on Wednesday, reaching $89.39. The company had a trading volume of 40,090,980 shares, compared to its average volume of 16,562,547. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company's 50-day moving average price is $89.17 and its 200-day moving average price is $80.74. The firm has a market cap of $186.93 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company's revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Piper Sandler upped their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Ten analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.71.

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.