Fortis Capital Advisors LLC Takes $628,000 Position in Uber Technologies, Inc. $UBER

Key Points

• Fortis Capital Advisors LLC has acquired a new position in Uber Technologies, purchasing 8,619 shares worth approximately $628,000 in the first quarter of the year.
• Uber Technologies reported $12.65 billion in revenue for the last quarter, surpassing expectations and showing an 18.2% year-over-year growth in revenue.
• Currently, 80.24% of Uber's stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Fortis Capital Advisors LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,619 shares of the ride-sharing company's stock, valued at approximately $628,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Noble Wealth Management PBC acquired a new position in Uber Technologies during the first quarter valued at approximately $27,000. Kozak & Associates Inc. raised its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Uber Technologies during the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co raised its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $94.24 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The stock has a market cap of $196.53 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.09 and a beta of 1.43. The company's fifty day moving average is $92.54 and its 200 day moving average is $84.30.

Uber Technologies (NYSE:UBER - Get Free Report) last issued 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 company had revenue of $12.65 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares of the company's stock, valued at $16,175,555. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,696 shares of company stock valued at $4,632,774 over the last 90 days. 3.84% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on UBER. Royal Bank Of Canada boosted their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Loop Capital reaffirmed a "buy" rating and set a $105.00 target price (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Stifel Nicolaus boosted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. 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. According to MarketBeat.com, the company has a consensus 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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