Drake & Associates LLC Purchases Shares of 8,008 Uber Technologies, Inc. $UBER

Key Points

• Drake & Associates LLC acquired 8,008 shares of Uber Technologies, Inc. for approximately $747,000, indicating growing institutional interest in the ride-sharing company.
• Uber reported a 12.65 billion revenue for the last quarter, exceeding analysts' expectations and showcasing an 18.2% year-over-year revenue growth.
• Analysts are optimistic about Uber's stock, with multiple firms raising their price targets, resulting in a consensus target price of $104.03 and an average rating of "Moderate Buy."

Drake & Associates LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,008 shares of the ride-sharing company's stock, valued at approximately $747,000.

A number of other hedge funds have also made changes to their positions in the business. UMB Bank n.a. boosted its position in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after purchasing an additional 3,073 shares during the period. Hilltop National Bank acquired a new position in shares of Uber Technologies during the second quarter worth about $96,000. Geneos Wealth Management Inc. boosted its position in shares of Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock worth $7,483,000 after buying an additional 91,362 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Uber Technologies by 42.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock worth $70,822,000 after buying an additional 226,960 shares during the period. Finally, Kapstone Financial Advisors LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at about $415,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $100.02 on Tuesday. The business's fifty day moving average price is $94.12 and its 200 day moving average price is $87.40. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The stock has a market capitalization of $208.58 billion, a PE ratio of 17.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results 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. The firm 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 for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

UBER has been the subject of a number of analyst reports. KeyCorp upped their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley restated an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. BMO Capital Markets boosted their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Roth Capital raised their target price on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Two research analysts have 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Insider Activity

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the transaction, the chief executive officer owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock valued at $58,659,491 over the last quarter. Corporate insiders own 3.70% of the company's stock.

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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