iA Global Asset Management Inc. Increases Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• iA Global Asset Management Inc. increased its ownership in Uber Technologies by 378.8%, bringing its total shares to 571,637, worth approximately $41.65 million.
• Uber Technologies reported a net margin of 27.07% and $0.83 EPS for the last quarter, outperforming analysts' estimates and marking a 13.8% revenue growth year-over-year.
• Several brokerages have upgraded their ratings for Uber Technologies, with target prices reaching as high as $117.00, indicating strong confidence in the company's outlook.

iA Global Asset Management Inc. grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 378.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 571,637 shares of the ride-sharing company's stock after acquiring an additional 452,246 shares during the quarter. iA Global Asset Management Inc.'s holdings in Uber Technologies were worth $41,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in UBER. Navalign LLC increased its position in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after purchasing an additional 126 shares during the last quarter. Grove Bank & Trust grew its position in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after acquiring an additional 133 shares during the last quarter. Forum Financial Management LP grew its position in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after acquiring an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its position in Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was 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 in the company, 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 filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider 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. Company insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. DA Davidson increased their price target on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. KeyCorp upped their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $0.00 during midday trading on Wednesday, hitting $89.39. The stock had a trading volume of 40,090,980 shares, compared to its average volume of 16,562,547. The company has a market capitalization of $186.93 billion, a PE ratio of 15.66, a P/E/G ratio of 1.03 and a beta of 1.43. The stock has a 50 day simple moving average of $89.17 and a 200-day simple moving average of $80.74. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results 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 business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.