Central Bank & Trust Co. Invests $620,000 in Uber Technologies, Inc. $UBER

Key Points

• Central Bank & Trust Co. invested approximately $620,000 in Uber Technologies, acquiring 6,645 shares during the 2nd quarter of 2023.
• A total of 80.24% of Uber's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Uber's latest earnings report showed an earnings per share of $0.63, exceeding analysts' expectations and indicating an 18.2% revenue growth compared to the same quarter last year.

Central Bank & Trust Co. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,645 shares of the ride-sharing company's stock, valued at approximately $620,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position 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 worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. bought a new position in Uber Technologies in the 1st quarter valued at about $2,207,743,000. Northern Trust Corp grew its position in Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after buying an additional 720,122 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Uber Technologies by 3.0% in the 1st 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 in the last quarter. Finally, Boston Partners grew its position in Uber Technologies by 43.8% in the 1st 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 in the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred 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 owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% 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 ninety days. 3.70% of the stock is owned by company insiders.

Uber Technologies Price Performance

NYSE UBER opened at $98.79 on Tuesday. The company has a 50 day simple moving average of $92.66 and a 200-day simple moving average of $84.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $206.02 billion, a price-to-earnings ratio of 16.83, 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 $98.86.

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 (EPS) 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 firm's revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UBER shares. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Royal Bank Of Canada increased 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. Finally, KeyCorp increased their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price 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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