Ardmore Road Asset Management LP Invests $14.57 Million in Uber Technologies, Inc. $UBER

Key Points

• Ardmore Road Asset Management LP invested approximately $14.57 million in Uber Technologies by acquiring 200,000 shares in the first quarter.
• Institutional investors hold 80.24% of Uber's stock, with significant stakes increased by firms like Pacer Advisors and Vanguard Group, among others.
• Analyst ratings for Uber are predominantly positive, with a consensus of "Moderate Buy" and an average target price of $102.82, following several upgrades in target prices from various firms.

Ardmore Road Asset Management LP bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,000 shares of the ride-sharing company's stock, valued at approximately $14,572,000.

Several other hedge funds also recently made changes to their positions in the business. Titleist Asset Management LLC increased its holdings in shares of Uber Technologies by 52.5% during the first quarter. Titleist Asset Management LLC now owns 34,476 shares of the ride-sharing company's stock worth $2,512,000 after purchasing an additional 11,872 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Uber Technologies by 15.1% during the first quarter. Baird Financial Group Inc. now owns 238,970 shares of the ride-sharing company's stock worth $17,411,000 after purchasing an additional 31,336 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Uber Technologies by 10.1% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 10,226 shares of the ride-sharing company's stock worth $745,000 after purchasing an additional 935 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Uber Technologies by 7.4% during the first quarter. Panagora Asset Management Inc. now owns 2,046,649 shares of the ride-sharing company's stock worth $149,119,000 after purchasing an additional 141,698 shares during the period. Finally, New Vernon Investment Management LLC bought a new position in shares of Uber Technologies during the first quarter worth approximately $1,239,000. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. KeyCorp lifted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Roth Capital boosted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Loop Capital restated a "buy" rating and set a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. One equities 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Price Performance

Shares of NYSE UBER traded down $2.16 during midday trading on Friday, reaching $93.80. 19,299,778 shares of the company were exchanged, compared to its average volume of 18,221,276. The stock's 50-day moving average price is $92.21 and its 200-day moving average price is $83.63. The stock 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, Inc. has a one year low of $59.33 and a one year high of $97.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company'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, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the sale, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,696 shares of company stock worth $4,632,774. Corporate insiders own 3.70% of the company's stock.

About Uber Technologies

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.