Davis Investment Partners LLC Invests $435,000 in Uber Technologies, Inc. $UBER

Key Points

• Davis Investment Partners LLC has invested $435,000 in Uber Technologies, Inc., acquiring 4,727 shares during the second quarter.
• Uber reported a quarterly earnings per share (EPS) of $0.63, exceeding analysts' expectations, with a revenue of $12.65 billion, a year-over-year increase of 18.2%.
• Research analysts have upgraded their price targets for Uber, with Bank of America raising it to $115.00 and BMO Capital Markets increasing it to $113.00, reflecting positive sentiment around the stock.

Davis Investment Partners LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,727 shares of the ride-sharing company's stock, valued at approximately $435,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Kozak & Associates Inc. raised its position in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in Uber Technologies in the first quarter valued at $27,000. Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies during the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Uber Technologies by 305.1% during 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 period. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $95.90 on Monday. The company has a 50-day simple moving average of $92.62 and a 200-day simple moving average of $84.71. 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 company has a market cap of $199.99 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America upped their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler lifted their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Tigress Financial set a $110.00 target price on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Roth Capital raised their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" 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 issued a Hold rating to the stock. According to MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the sale, the insider directly owned 170,269 shares of the company's stock, valued at approximately $16,175,555. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is owned by company insiders.

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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