AlTi Global Inc. Increases Holdings in Uber Technologies, Inc. $UBER

Key Points

• AlTi Global Inc. increased its stake in Uber Technologies by 1.7% during Q2, bringing its total shares to 513,209, valued at approximately $47.9 million.
• Analysts have raised their target price for Uber Technologies, with KeyCorp setting it at $110 and Raymond James at $105, indicating a positive outlook on the company's performance.
• Insiders sold a total of 604,946 shares of Uber's stock recently, including significant sales by CFO Prashanth Mahendra-Rajah and CEO Dara Khosrowshahi, resulting in a decrease in their ownership stakes.

AlTi Global Inc. increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 513,209 shares of the ride-sharing company's stock after buying an additional 8,453 shares during the quarter. Uber Technologies comprises 1.2% of AlTi Global Inc.'s holdings, making the stock its 17th largest position. AlTi Global Inc.'s holdings in Uber Technologies were worth $47,919,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in UBER. Vision Financial Markets LLC purchased a new position in Uber Technologies during the first quarter worth approximately $27,000. West Oak Capital LLC purchased a new stake in Uber Technologies in the second quarter valued at $28,000. Truvestments Capital LLC raised its position in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies in the second quarter valued at $30,000. Finally, Ransom Advisory Ltd purchased a new stake in Uber Technologies in the first quarter valued at $31,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on UBER shares. KeyCorp lifted their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Weiss Ratings restated a "buy (b-)" rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Raymond James Financial lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, Piper Sandler lifted their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $105.70.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 over the last three months. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Up 2.6%

Shares of NYSE UBER opened at $94.57 on Friday. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $95.40 and a 200-day simple moving average of $89.18. The stock has a market capitalization of $197.21 billion, a PE ratio of 16.11 and a beta of 1.48.

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

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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