Baillie Gifford & Co. Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Baillie Gifford & Co. purchased approximately 2,299,369 shares of Uber Technologies, Inc., valued at around $167.5 million, giving them a 0.11% stake in the company.
• Uber Technologies is experiencing significant institutional investment, with groups like Clark Capital Management and UMB Bank significantly increasing their holdings in recent quarters.
• Multiple analysts have upgraded their price targets for Uber, with Morgan Stanley setting a new target of $115.00, reflecting a positive outlook on the stock's performance.

Baillie Gifford & Co. purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,299,369 shares of the ride-sharing company's stock, valued at approximately $167,532,000. Baillie Gifford & Co. owned about 0.11% of Uber Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Transce3nd LLC purchased a new stake in Uber Technologies during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new stake in Uber Technologies during the fourth quarter valued at about $27,000. Kozak & Associates Inc. raised its holdings in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies during the first quarter valued at about $27,000. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Barclays lifted their price target on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Sanford C. Bernstein lifted their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Loop Capital reiterated a "buy" rating and issued a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.26.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,496,071 in the last three months. Insiders own 3.84% of the company's stock.

Uber Technologies Stock Performance

UBER traded up $0.44 during midday trading on Friday, reaching $91.31. The company had a trading volume of 13,845,668 shares, compared to its average volume of 16,021,651. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $89.29 and a two-hundred day moving average of $79.51. The company has a market cap of $190.94 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.05 and a beta of 1.40. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company earned ($0.32) earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.