Ellsworth Advisors LLC Makes New $3.99 Million Investment in Uber Technologies, Inc. $UBER

Key Points

• Ellsworth Advisors LLC acquired 54,814 shares of Uber Technologies, Inc., valued at approximately $3,994,000, as reported in their recent SEC filing.
• A majority of institutional investors hold a significant stake in Uber, with 80.24% of the stock owned by these entities and various firms increasing their positions recently.
• Analysts have raised price targets for Uber Technologies, with Barclays setting a new target of $110.00, reflecting a general optimism in the company’s performance and future prospects.

Ellsworth Advisors LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,814 shares of the ride-sharing company's stock, valued at approximately $3,994,000.

Several other large investors have also made changes to their positions in the company. Advisors Capital Management LLC grew its stake in shares of Uber Technologies by 26.1% in the 1st quarter. Advisors Capital Management LLC now owns 5,814 shares of the ride-sharing company's stock valued at $424,000 after buying an additional 1,202 shares in the last quarter. Iron Gate Global Advisors LLC grew its holdings in Uber Technologies by 35.3% during the first quarter. Iron Gate Global Advisors LLC now owns 410,792 shares of the ride-sharing company's stock valued at $29,930,000 after purchasing an additional 107,277 shares during the last quarter. Rollins Financial Advisors LLC grew its holdings in Uber Technologies by 12.9% during the first quarter. Rollins Financial Advisors LLC now owns 7,041 shares of the ride-sharing company's stock valued at $513,000 after purchasing an additional 806 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in Uber Technologies by 1.1% during the first quarter. IFM Investors Pty Ltd now owns 346,411 shares of the ride-sharing company's stock valued at $25,240,000 after purchasing an additional 3,843 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of NYSE:UBER traded up $1.84 during midday trading on Monday, reaching $97.73. The company's stock had a trading volume of 8,523,582 shares, compared to its average volume of 21,342,180. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $98.51. The company has a market capitalization of $203.81 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.10 and a beta of 1.43. 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 business's fifty day simple moving average is $92.62 and its 200-day simple moving average is $84.71.

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 for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the company posted $0.47 earnings per share. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,696 shares of company stock worth $4,632,774 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on UBER shares. Sanford C. Bernstein increased their price target on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, KeyCorp increased their price target on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

About Uber Technologies

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.