Fifth Third Bancorp Boosts Holdings in Uber Technologies, Inc. $UBER

Key Points

• Fifth Third Bancorp increased its stake in Uber Technologies by 19.7%, owning 275,264 shares valued at approximately $25.68 million as of the latest filing with the SEC.
• In total, 80.24% of Uber's stock is held by institutional investors, with significant involvement from other hedge funds and firms like Pershing Square Capital Management and Vanguard Group.
• Uber reported a better-than-expected earnings per share of $0.63 for the most recent quarter, surpassing estimates and achieving a year-over-year revenue growth of 18.2%.

Fifth Third Bancorp raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 19.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,264 shares of the ride-sharing company's stock after buying an additional 45,364 shares during the quarter. Fifth Third Bancorp's holdings in Uber Technologies were worth $25,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC lifted its position in Uber Technologies by 334,075.7% in 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 during the last quarter. Pacer Advisors Inc. boosted 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 worth $473,456,000 after buying an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. boosted its stake in Uber Technologies by 3.2% in 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 buying an additional 5,759,353 shares in the last quarter. Finally, Boston Partners grew its position in Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony West sold 100,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company's stock, valued at $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Down 0.1%

Shares of NYSE:UBER opened at $97.70 on Thursday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a market cap of $203.75 billion, a PE ratio of 16.64 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 stock's 50-day moving average is $92.99 and its 200 day moving average is $85.78.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UBER shares. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Susquehanna boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Piper Sandler boosted their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial raised their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

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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