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Arnhold LLC Boosts Holdings in Uber Technologies, Inc. $UBER

Uber Technologies logo with Computer and Technology background

Key Points

  • Arnhold LLC increased its investments in Uber by 19.6%, owning a total of 248,201 shares valued at approximately $23.2 million, representing 2.1% of its investment portfolio.
  • Several other hedge funds also enhanced their positions in Uber, with notable increases including 41.0% by Nova Wealth Management and 39.8% by Atticus Wealth Management.
  • Uber's stock is rated as a "Moderate Buy" by analysts with a consensus target price of $105.68, following increased price targets from several research firms.
  • MarketBeat previews the top five stocks to own by November 1st.

Arnhold LLC boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 19.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,201 shares of the ride-sharing company's stock after buying an additional 40,759 shares during the quarter. Uber Technologies accounts for 2.1% of Arnhold LLC's investment portfolio, making the stock its 11th largest position. Arnhold LLC's holdings in Uber Technologies were worth $23,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Nova Wealth Management Inc. boosted its holdings in Uber Technologies by 41.0% in the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock valued at $31,000 after purchasing an additional 125 shares during the period. Atticus Wealth Management LLC raised its position in Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock valued at $42,000 after purchasing an additional 127 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after buying an additional 138 shares in the last quarter. Finally, Rogco LP grew its position in shares of Uber Technologies by 1.6% during the second quarter. Rogco LP now owns 8,925 shares of the ride-sharing company's stock worth $833,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,821 shares of company stock worth $58,659,491. Company insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on UBER shares. Royal Bank Of Canada boosted their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Sanford C. Bernstein increased their target price on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company cut their price target on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.68.

View Our Latest Stock Analysis on UBER

Uber Technologies Price Performance

Shares of UBER opened at $92.29 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 fifty-two week low of $59.33 and a fifty-two week high of $101.99. The firm has a 50-day simple moving average of $95.22 and a 200-day simple moving average of $88.50. The company has a market capitalization of $192.47 billion, a price-to-earnings ratio of 15.72 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly 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. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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