Frank Rimerman Advisors LLC Acquires 8,492 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Frank Rimerman Advisors LLC increased its stake in Uber Technologies by 99.0% during the first quarter, owning 17,070 shares worth approximately $1.24 million.
• Uber Technologies reported $0.63 earnings per share for the latest quarter, exceeding analyst expectations, with revenues up 18.2% year-over-year at $12.65 billion.
• Various institutional investors are actively trading Uber shares, with hedge funds owning 80.24% of the company’s stock, indicating strong institutional interest in the stock.

Frank Rimerman Advisors LLC grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 99.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,070 shares of the ride-sharing company's stock after purchasing an additional 8,492 shares during the period. Frank Rimerman Advisors LLC's holdings in Uber Technologies were worth $1,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of UBER. Brighton Jones LLC raised its holdings in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of Uber Technologies during the fourth quarter worth $395,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of Uber Technologies by 48.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,350 shares of the ride-sharing company's stock worth $443,000 after purchasing an additional 2,397 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Uber Technologies by 29.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,736,825 shares of the ride-sharing company's stock worth $165,088,000 after purchasing an additional 625,773 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Down 3.3%

Shares of NYSE UBER traded down $3.03 during mid-day trading on Friday, reaching $89.64. The company had a trading volume of 26,183,828 shares, compared to its average volume of 19,159,610. The stock has a fifty day moving average of $89.44 and a two-hundred day moving average of $81.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $187.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.03 and a beta of 1.43. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71.

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, beating the consensus estimate of $0.61 by $0.02. The firm 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%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on UBER. KeyCorp upped their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America upped their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Susquehanna upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday. Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, Citigroup upped their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

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.