Brooklyn Investment Group Increases Position in Uber Technologies, Inc. $UBER

Key Points

• Brooklyn Investment Group increased its stake in Uber Technologies by 34.0% in the first quarter, owning 11,567 shares valued at approximately $843,000.
• Several institutional investors, including Clark Capital Management Group and Revolve Wealth Partners LLC, significantly boosted their holdings in Uber, reflecting strong institutional confidence in the company.
• Research analysts have raised their price targets for Uber Technologies, with estimates ranging from $102.00 to $110.00, indicating an overall positive sentiment towards the company's future performance.

Brooklyn Investment Group raised its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 34.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,567 shares of the ride-sharing company's stock after acquiring an additional 2,933 shares during the period. Brooklyn Investment Group's holdings in Uber Technologies were worth $843,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Northern Trust Corp raised its stake in shares of Uber Technologies by 9.0% in the fourth quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company's stock valued at $1,117,158,000 after buying an additional 1,528,168 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after buying an additional 394,157 shares during the period. Boston Partners raised its stake in shares of Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after buying an additional 2,749,456 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of 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 valued at $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

NYSE UBER traded up $1.29 during trading hours on Monday, hitting $93.89. 16,455,027 shares of the company's stock traded hands, compared to its average volume of 18,903,182. The business's fifty day moving average price is $90.33 and its two-hundred day moving average price is $82.27. 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 firm has a market capitalization of $195.80 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.06 and a beta of 1.43. 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 posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business 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 company's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UBER. Piper Sandler boosted their target price on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. UBS Group increased their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Citigroup raised their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. BMO Capital Markets raised their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target 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. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares of the company's stock, 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 SEC, which is available at this hyperlink. 3.70% of the stock is currently 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.