Cornerstone Select Advisors LLC Invests $221,000 in Uber Technologies, Inc. $UBER

Key Points

• Cornerstone Select Advisors LLC invested $221,000 in Uber Technologies during the first quarter, acquiring 3,031 shares as part of their new position.
• Institutional investors now own 80.24% of Uber's stock, with several firms like Vanguard Group and Boston Partners significantly increasing their stakes in the company.
• Uber's latest earnings report showed a net margin of 26.68% and a year-over-year revenue increase of 18.2%, further supported by favorable analyst ratings and price target adjustments.

Cornerstone Select Advisors LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,031 shares of the ride-sharing company's stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 buying an additional 5,759,353 shares during the period. Northern Trust Corp increased its position in Uber Technologies by 3.9% during 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 purchasing an additional 720,122 shares during the period. Charles Schwab Investment Management Inc. increased its position in Uber Technologies by 3.0% during 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 purchasing an additional 394,157 shares during the period. Boston Partners increased its position in Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the period. Finally, Pacer Advisors Inc. increased its position in Uber Technologies by 2,571.2% during the 1st 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 during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

UBER has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Finally, Needham & Company LLC increased 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. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $92.64 on Monday. 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 stock's fifty day simple moving average is $90.19 and its two-hundred day simple moving average is $82.08. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The stock has a market cap of $193.19 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the business earned $0.47 EPS. The business's revenue was up 18.2% on a year-over-year basis. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.

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