Ethic Inc. Buys 7,363 Shares of Uber Technologies, Inc. $UBER

Key Points

• Ethic Inc. increased its stake in Uber Technologies, acquiring an additional 7,363 shares, bringing its total holdings to 227,946 shares valued at approximately $20.86 million.
• Major institutional investors, including Vanguard Group and Pershing Square Capital Management, have also raised their positions in Uber, indicating strong interest from financial institutions.
• Analysts are optimistic about Uber's future, with multiple firms raising their target price to $110.00 and maintaining a "buy" or "outperform" rating, reflecting positive growth forecasts.

Ethic Inc. increased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,946 shares of the ride-sharing company's stock after purchasing an additional 7,363 shares during the quarter. Ethic Inc.'s holdings in Uber Technologies were worth $20,864,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Uber Technologies by 3.2% during 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 purchasing an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies in the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after buying an additional 19,967,705 shares in the last quarter. Northern Trust Corp raised its holdings in shares of 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 worth $1,401,873,000 after buying an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $995,801,000 after buying an additional 394,157 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Roth Capital lifted their target price on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein reiterated an "outperform" rating and issued a $110.00 price target on shares of Uber Technologies in a research note on Tuesday. Finally, Mizuho began coverage on Uber Technologies in a research report on Monday, September 29th. They set an "outperform" rating and a $130.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and an average price target of $105.70.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,946 shares of company stock worth $58,950,116 in the last quarter. Company insiders own 3.70% of the company's stock.

Uber Technologies Stock Down 0.6%

Shares of Uber Technologies stock opened at $92.50 on Wednesday. The firm has a market cap of $192.91 billion, a price-to-earnings ratio of 15.75 and a beta of 1.48. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. 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 stock's 50-day moving average is $95.31 and its 200 day moving average is $88.96.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for 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%. Uber Technologies's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current 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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