Cacti Asset Management LLC Increases Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Cacti Asset Management LLC increased its holdings in Uber Technologies, acquiring an additional 14,880 shares, bringing its total to 199,851 shares valued at approximately $18.29 million.
• Several institutional investors, including Vanguard Group Inc. and Boston Partners, also increased their stakes in Uber, indicating growing confidence among major shareholders.
• Uber's recent earnings report showed a net margin of 26.68% and earnings per share (EPS) of $0.63, exceeding analysts' expectations and reflecting a robust revenue growth of 18.2% year-over-year.

Cacti Asset Management LLC lifted its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 8.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,851 shares of the ride-sharing company's stock after buying an additional 14,880 shares during the quarter. Uber Technologies makes up about 1.3% of Cacti Asset Management LLC's portfolio, making the stock its 22nd biggest position. Cacti Asset Management LLC's holdings in Uber Technologies were worth $18,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of UBER. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the first quarter worth $2,207,743,000. Pacer Advisors Inc. increased its position in shares of 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 worth $473,456,000 after acquiring an additional 6,254,898 shares during the period. Vanguard Group Inc. raised its stake in shares of Uber Technologies by 3.2% during 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 acquiring an additional 5,759,353 shares in the last quarter. Toyota Motor Corp purchased a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $309,192,000. Finally, Boston Partners grew its stake in Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after purchasing an additional 2,749,456 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated 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 directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,696 shares of company stock valued at $4,632,774 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

UBER has been the topic of a number of research reports. Royal Bank Of Canada raised their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Canaccord Genuity Group reissued a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Stifel Nicolaus increased their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays reissued an "overweight" rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Trading Up 1.3%

NYSE:UBER traded up $1.22 on Friday, reaching $95.90. 13,652,955 shares of the company's stock were exchanged, compared to its average volume of 14,496,138. The business has a fifty day moving average of $92.62 and a 200-day moving average of $84.71. 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 firm has a market capitalization of $199.99 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.10 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 announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.