CX Institutional Raises Holdings in Uber Technologies, Inc. $UBER

Key Points

• CX Institutional increased its Uber stake by 605.6% during the second quarter, ending with 99,789 shares valued at approximately $7.2 million. Institutional investors collectively own 80.24% of Uber’s stock.
• Analysts maintain a generally positive outlook, with Uber receiving a consensus “Moderate Buy” rating and an average price target of $104.60, despite some recent downgrades and target reductions.
• Uber’s latest quarterly results exceeded earnings expectations, reporting $0.72 in EPS versus a $0.69 estimate, while revenue rose 14.5% year over year to $13.2 billion.

CX Institutional lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 605.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 99,789 shares of the ride-sharing company's stock after acquiring an additional 85,647 shares during the quarter. CX Institutional's holdings in Uber Technologies were worth $7,201,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UBER. Measured Wealth Private Client Group LLC purchased a new position in shares of Uber Technologies in the third quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new position in Uber Technologies in the 4th quarter worth approximately $25,000. Osbon Capital Management LLC purchased a new position in Uber Technologies in the 4th quarter valued at approximately $25,000. Imprint Wealth LLC bought a new stake in Uber Technologies during the 3rd quarter valued at $32,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Uber Technologies during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on UBER. Wolfe Research set a $100.00 price target on Uber Technologies in a report on Friday, May 29th. Weiss Ratings lowered Uber Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. Fox Advisors raised Uber Technologies from a "hold" rating to an "outperform" rating in a report on Monday, May 11th. KeyCorp dropped their price objective on Uber Technologies from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Finally, HSBC downgraded Uber Technologies to a "reduce" rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.60.

Uber Technologies Stock Up 0.5%

Shares of NYSE:UBER opened at $72.00 on Wednesday. The firm has a fifty day moving average price of $71.83 and a two-hundred day moving average price of $73.94. The company has a market cap of $146.56 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 6.54 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.07 and a quick ratio of 1.07. Uber Technologies, Inc. has a one year low of $65.41 and a one year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The ride-sharing company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. Uber Technologies had a net margin of 15.91% and a return on equity of 41.40%. The firm had revenue of $13.20 billion for the quarter, compared to analysts' expectations of $13.28 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Uber Technologies, Inc. will post 2.99 EPS for the current fiscal year.

More Uber Technologies News

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Investors are anticipating another quarter of growth in Uber’s Mobility and Delivery businesses. The company is expected to benefit from resilient ride demand, expanding delivery operations and improving profitability. Uber Stock: This Upcoming Catalyst Could Send It Higher
• Positive Sentiment: Some investor commentary points to Uber’s strong free-cash-flow generation, share buybacks and relatively modest valuation as reasons the stock could rebound if the company delivers a strong quarter or raises guidance. Uber previously exceeded first-quarter EPS expectations and has guided to second-quarter EPS of approximately $0.78 to $0.82. Uber Stock Opinions on Upcoming Earnings Report
• Neutral Sentiment: Uber’s August 5 earnings call is likely to focus on the Delivery Hero transaction, autonomous-vehicle strategy and the robotaxi program. Prediction-market traders assign high probabilities to discussion of Delivery Hero and Waymo, but show less confidence that Uber will provide significant robotaxi details. Uber Earnings Prediction Market Preview
• Negative Sentiment: Waymo appears to be reducing cooperation with Uber, raising questions about the future of their robotaxi relationship. The reported rift could leave Uber’s autonomous-mobility ambitions more dependent on other partners and increase competitive pressure from Waymo’s directly operated services. Waymo rift leaves Uber’s robotaxi ambitions on shaky ground
• Negative Sentiment: Toyota disclosed that it exited its entire 5.13 million-share Uber position during the second quarter. Although the sale may reflect portfolio management rather than a change in Uber’s fundamentals, it removes a major strategic investor and underscores uncertainty surrounding Uber’s autonomous-driving partnerships. Toyota Exits Entire Uber Stake

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber's principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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