Argus Investors Counsel Inc. Invests $808,000 in Uber Technologies, Inc. $UBER

Key Points

• Argus Investors Counsel Inc. invested approximately $808,000 in Uber Technologies, acquiring 8,662 shares during the second quarter.
• Uber Technologies' stock has received bullish ratings from several analysts, with price targets raised to as high as $117.00 and an average consensus target of $103.30.
• Recent sales by insiders, including CEO Dara Khosrowshahi selling 300,000 shares, indicate a 20.94% decrease in their position, highlighting significant insider activity amid investors' growing interest in the stock.

Argus Investors Counsel Inc. purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,662 shares of the ride-sharing company's stock, valued at approximately $808,000.

A number of other large investors have also added to or reduced their stakes in UBER. West Oak Capital LLC purchased a new stake in Uber Technologies in the 2nd quarter worth $28,000. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Kozak & Associates Inc. increased its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies in the 1st quarter valued at $27,000. Finally, GPS Wealth Strategies Group LLC raised 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 worth $29,000 after buying an additional 299 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UBER shares. Piper Sandler lifted 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. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. BMO Capital Markets lifted their target price on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their target price on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $103.30.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,571 shares of company stock valued at $58,920,741. Company insiders own 3.84% of the company's stock.

Uber Technologies Stock Performance

NYSE UBER opened at $98.37 on Friday. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The stock has a 50-day moving average of $93.29 and a two-hundred day moving average of $86.24. 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 company has a market cap of $205.14 billion, a P/E ratio of 16.76 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS 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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