Ethic Inc. Has $16.10 Million Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Ethic Inc. increased its stock holdings in Uber Technologies by 12.8% in the first quarter, now owning shares worth approximately $16.1 million.
• Several hedge funds have significantly raised their stakes in Uber, including Capital Research Global Investors, which boosted its holdings by 79% in the last quarter.
• Uber recently reported $0.63 earnings per share for the quarter, exceeding estimates, with revenue of $12.65 billion, reflecting an 18.2% increase compared to the previous year.

Ethic Inc. lifted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,583 shares of the ride-sharing company's stock after buying an additional 25,029 shares during the period. Ethic Inc.'s holdings in Uber Technologies were worth $16,100,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of UBER. Capital Research Global Investors raised its stake in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after buying an additional 52,125,476 shares during the period. Pacer Advisors Inc. raised its stake in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after buying an additional 6,254,898 shares during the period. Vanguard Group Inc. lifted 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 worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Toyota Motor Corp acquired a new stake in Uber Technologies during the fourth quarter worth approximately $309,192,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in shares of Uber Technologies during the fourth quarter worth approximately $298,644,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UBER has been the subject of a number of research analyst reports. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. The Goldman Sachs Group boosted their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. KeyCorp boosted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Susquehanna boosted their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.82.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.84% of the company's stock.

Uber Technologies Stock Up 0.7%

Shares of NYSE:UBER opened at $91.44 on Friday. The company has a fifty day moving average of $90.05 and a 200-day moving average of $81.69. The company has a market capitalization of $190.69 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly 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 company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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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