Charter Capital Management LLC DE Makes New $1.51 Million Investment in Uber Technologies, Inc. $UBER

Key Points

• Charter Capital Management LLC DE invested approximately $1.51 million in Uber Technologies, acquiring 16,163 shares, making Uber 0.9% of its investment portfolio.
• Uber's CEO, Dara Khosrowshahi, sold 300,000 shares for about $28.6 million, resulting in a 20.94% decrease in his ownership stake.
• Analysts have increased their target prices for Uber, with estimates ranging from $105 to $110, maintaining a consensus average rating of "Moderate Buy."

Charter Capital Management LLC DE purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,163 shares of the ride-sharing company's stock, valued at approximately $1,508,000. Uber Technologies comprises 0.9% of Charter Capital Management LLC DE's investment portfolio, making the stock its 13th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in Uber Technologies in the 1st quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter worth $27,000. West Oak Capital LLC acquired a new stake in Uber Technologies in the 2nd quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was 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 $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,571 shares of company stock valued at $33,810,741 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on UBER shares. Raymond James Financial lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Sanford C. Bernstein lifted their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. KeyCorp lifted 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. Finally, Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Trading Down 1.6%

Shares of UBER stock opened at $97.78 on Wednesday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The firm has a 50-day moving average price of $92.85 and a 200 day moving average price of $85.70. The company has a market capitalization of $203.90 billion, a P/E ratio of 16.66 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the business earned $0.47 earnings per share. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. Research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Uber Technologies Company 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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