Belpointe Asset Management LLC Has $2.71 Million Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Belpointe Asset Management LLC significantly increased its stake in Uber Technologies, raising it by 415.9% to a total of 37,256 shares valued at approximately $2.71 million.
• Several institutional investors showed strong interest in Uber, with Pershing Square Capital Management acquiring a stake valued at about $2.21 billion, and Pacer Advisors increasing its holdings by 2,571.2%.
• Uber reported a quarterly earnings beat with $0.63 EPS and revenue of $12.65 billion, exceeding analyst expectations and marking an 18.2% revenue increase compared to the previous year.

Belpointe Asset Management LLC raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 415.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,256 shares of the ride-sharing company's stock after purchasing an additional 30,034 shares during the quarter. Belpointe Asset Management LLC's holdings in Uber Technologies were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in UBER. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies during the first quarter valued at approximately $2,207,743,000. Pacer Advisors Inc. boosted its holdings in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Toyota Motor Corp acquired a new position in shares of Uber Technologies in the 4th quarter worth approximately $309,192,000. Finally, Boston Partners boosted its holdings in shares of Uber Technologies by 43.8% in the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after acquiring an additional 2,749,456 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

UBER stock opened at $94.24 on Thursday. The company has a 50 day moving average price of $92.54 and a 200 day moving average price of $84.30. The stock has a market capitalization of $196.53 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. Analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the sale, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction on 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 sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on UBER shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 target price (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Wells Fargo & Company boosted their target price on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. UBS Group boosted their target price on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, KeyCorp boosted their target price on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $103.06.

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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