Banque Pictet & Cie SA Grows Position in Uber Technologies, Inc. $UBER

Key Points

• Banque Pictet & Cie SA Increased its stake in Uber Technologies, Inc. by 152.5% during the second quarter, owning 311,746 shares valued at $29.1 million.
• Uber Technologies reported a quarterly earnings per share of $0.63, exceeding estimates and achieving revenue of $12.65 billion, which is an 18.2% increase year-over-year.
• Analysts have recently increased their price targets for Uber shares, with target prices now ranging from $105.00 to $117.00, while the stock holds a consensus rating of "Moderate Buy."

Banque Pictet & Cie SA raised its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 152.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 311,746 shares of the ride-sharing company's stock after acquiring an additional 188,290 shares during the period. Banque Pictet & Cie SA's holdings in Uber Technologies were worth $29,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its stake in Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after acquiring an additional 3,073 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares in the last quarter. Kapstone Financial Advisors LLC purchased a new stake in Uber Technologies during the second quarter valued at $415,000. Revolve Wealth Partners LLC lifted its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the last quarter. Finally, Davis Investment Partners LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth $435,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 0.2%

NYSE UBER opened at $97.60 on Friday. The company's 50-day moving average price is $93.13 and its 200-day moving average price is $85.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $203.55 billion, a PE ratio of 16.63 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share 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 analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of analyst reports. Susquehanna increased their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Sanford C. Bernstein boosted their target price on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Finally, Needham & Company LLC lifted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares of the company's stock, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock valued at $58,920,741 in the last ninety days. Corporate insiders own 3.84% of the company's stock.

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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