Avity Investment Management Inc. Raises Stake in Uber Technologies, Inc. $UBER

Key Points

• Avity Investment Management Inc. increased its stake in Uber by 6.1% during the second quarter, now holding 174,975 shares valued at $16.3 million.
• Other institutions, such as Pershing Square Capital Management, have made significant investments in Uber, with one purchasing a stake worth approximately $2.2 billion.
• Uber's recent earnings report showed an EPS of $0.63, beating expectations, and revenue of $12.65 billion, marking an 18.2% increase year-over-year.

Avity Investment Management Inc. boosted its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,975 shares of the ride-sharing company's stock after buying an additional 10,123 shares during the quarter. Uber Technologies makes up approximately 1.2% of Avity Investment Management Inc.'s portfolio, making the stock its 29th biggest position. Avity Investment Management Inc.'s holdings in Uber Technologies were worth $16,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UBER. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies in the first quarter worth approximately $2,207,743,000. Pacer Advisors Inc. boosted its stake in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after buying an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. boosted its stake in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Toyota Motor Corp purchased a new stake in Uber Technologies in the fourth quarter worth approximately $309,192,000. Finally, Boston Partners boosted its stake in Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after buying an additional 2,749,456 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $95.90 on Monday. 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 company has a market cap of $199.99 billion, a PE ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43. The business has a 50 day moving average of $92.62 and a 200 day moving average of $84.71. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on UBER shares. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. UBS Group boosted their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Needham & Company LLC boosted their price objective on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Raymond James Financial boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 3,125 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock worth $4,632,774 in the last ninety days. 3.70% of the stock is owned by company insiders.

Uber Technologies 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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