Harber Asset Management LLC Invests $8.37 Million in Uber Technologies, Inc. $UBER

Key Points

• Harber Asset Management LLC has invested approximately $8.37 million in Uber Technologies, acquiring 114,810 shares, which represents 3.0% of its portfolio.
• Recent changes among hedge funds include significant increases in stakes by Clark Capital Management Group (up 11,354.8%) and UMB Bank (up 33.6%), indicating strong institutional interest in Uber.
• Uber's stock has recently seen a price target range of $100.00 to $119.00 from several brokerages, with an average rating of "Moderate Buy" and earnings increasing by 18.2% year-over-year.

Harber Asset Management LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 114,810 shares of the ride-sharing company's stock, valued at approximately $8,365,000. Uber Technologies accounts for about 3.0% of Harber Asset Management LLC's portfolio, making the stock its 15th largest holding.

Other large investors also recently modified their holdings of the company. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter valued at $27,000. Kozak & Associates Inc. lifted its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the last quarter. Vision Financial Markets LLC bought a new position in shares of Uber Technologies during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC increased its holdings in Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after acquiring an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 306 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of UBER stock traded down $2.16 during trading on Friday, hitting $93.80. The company had a trading volume of 19,299,778 shares, compared to its average volume of 18,221,276. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average is $92.21 and its two-hundred day moving average is $83.63. The stock has a market capitalization of $195.61 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. 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 earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the business posted $0.47 earnings per share. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 3,125 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the transaction, the insider owned 170,269 shares in the company, valued at $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,696 shares of company stock valued at $4,632,774. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

UBER has been the subject of a number of research reports. Citigroup increased their target price 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. Morgan Stanley restated an "overweight" rating and set a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Finally, Needham & Company LLC raised their price target on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $102.82.

About Uber Technologies

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.