Ascent Group LLC Boosts Stake in Uber Technologies, Inc. $UBER

Key Points

• Ascent Group LLC increased its stake in Uber Technologies by 24.9%, acquiring an additional 5,590 shares during Q1, bringing its total holdings to 28,029 shares valued at $2,042,000.
• A significant number of institutional investors have also increased their stakes in Uber, with notable boosts from firms like Canada Post Corp Registered Pension Plan and Great Lakes Advisors LLC.
• Uber reported earnings of $0.63 per share for the last quarter, exceeding analyst expectations, with revenues reaching $12.65 billion, a year-over-year increase of 18.2%.

Ascent Group LLC raised its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,029 shares of the ride-sharing company's stock after buying an additional 5,590 shares during the period. Ascent Group LLC's holdings in Uber Technologies were worth $2,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adalta Capital Management LLC boosted its position in Uber Technologies by 61.7% in the 1st quarter. Adalta Capital Management LLC now owns 2,425 shares of the ride-sharing company's stock valued at $177,000 after buying an additional 925 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Uber Technologies by 6.8% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 81,287 shares of the ride-sharing company's stock worth $5,923,000 after purchasing an additional 5,172 shares during the last quarter. Canada Post Corp Registered Pension Plan lifted its position in shares of Uber Technologies by 150.9% during the first quarter. Canada Post Corp Registered Pension Plan now owns 89,971 shares of the ride-sharing company's stock worth $6,555,000 after purchasing an additional 54,106 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Uber Technologies by 410.8% during the first quarter. Arete Wealth Advisors LLC now owns 33,301 shares of the ride-sharing company's stock worth $2,426,000 after purchasing an additional 26,781 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of Uber Technologies by 922.1% during the first quarter. Great Lakes Advisors LLC now owns 223,323 shares of the ride-sharing company's stock worth $16,271,000 after purchasing an additional 201,474 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on UBER. Roth Capital increased their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus increased their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $96.7020 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm's 50-day moving average price is $91.08 and its two-hundred day moving average price is $82.93. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The stock has a market capitalization of $201.66 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.11 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter last year, the company posted $0.47 earnings per share. Uber Technologies's revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.

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