Alpine Global Management LLC Purchases Shares of 29,400 Uber Technologies, Inc. $UBER

Key Points

• Alpine Global Management LLC acquired 29,400 shares of Uber Technologies, Inc. valued at approximately $2,142,000 in the first quarter.
• Uber reported strong quarterly earnings with $0.63 earnings per share, exceeding analysts' expectations and showing an 18.2% revenue increase year-over-year.
• Hedge funds and institutional investors own over 80% of Uber's stock, indicating significant institutional interest and confidence in the company.

Alpine Global Management LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 29,400 shares of the ride-sharing company's stock, valued at approximately $2,142,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after buying an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. lifted its stake in Uber Technologies by 3.2% during the first 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. Toyota Motor Corp acquired a new stake in Uber Technologies during the fourth quarter valued at approximately $309,192,000. Boston Partners raised its holdings in shares of Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the period. Finally, Baillie Gifford & Co. acquired a new stake in shares of Uber Technologies during the first quarter valued at approximately $167,532,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $93.80 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The firm's 50 day moving average price is $92.21 and its two-hundred day moving average price is $83.61. The firm has a market cap of $195.61 billion, a P/E ratio of 15.98, a PEG ratio of 1.08 and a beta of 1.43.

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

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Monday, July 7th. The shares were 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 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. Over the last three months, insiders sold 48,696 shares of company stock valued at $4,632,774. 3.84% of the stock is owned by insiders.

Analyst Ratings Changes

UBER has been the topic of several research reports. Wedbush dropped their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Susquehanna raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Finally, Roth Capital lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.82.

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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