BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 64,983 Shares of Uber Technologies, Inc. $UBER

Key Points

• British Columbia Investment Management Corp increased its stake in Uber Technologies by 14.7%, buying an additional 64,983 shares, bringing its total to 507,527 shares valued at approximately $36.98 million.
• Several analysts have raised their price targets for Uber, with Goldman Sachs setting a new target of $110 and Morgan Stanley raising theirs to $115, indicating a strong consensus around a "Moderate Buy" rating.
• Uber reported strong quarterly earnings, with an EPS of $0.63, beating estimates and showcasing 18.2% year-over-year revenue growth to $12.65 billion.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507,527 shares of the ride-sharing company's stock after purchasing an additional 64,983 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Uber Technologies were worth $36,978,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC grew its holdings in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Uber Technologies in the fourth quarter worth about $395,000. Coppell Advisory Solutions LLC grew its holdings in Uber Technologies by 114.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,596 shares of the ride-sharing company's stock worth $97,000 after purchasing an additional 851 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Uber Technologies by 33.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 48,516 shares of the ride-sharing company's stock worth $2,927,000 after purchasing an additional 12,163 shares during the period. Institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Piper Sandler upped their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Morgan Stanley restated an "overweight" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $102.82.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Trading Up 2.6%

NYSE:UBER opened at $96.7020 on Friday. The company's 50 day moving average price is $91.08 and its 200-day moving average price is $82.81. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. 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 stock has a market cap of $201.66 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.08 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly 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. 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 in the prior year, the company posted $0.47 earnings per share. The business's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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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