ICONIQ Capital LLC Increases Stock Position in Uber Technologies, Inc. $UBER

Key Points

• ICONIQ Capital LLC increased its ownership in Uber Technologies by 7.7%, now holding 69,408 shares valued at over $5 million.
• Analysts have raised their target price for Uber, with Bank of America setting a new target at $115 and a consensus price target currently at $102.82.
• Uber reported strong quarterly earnings with an EPS of $0.63, exceeding expectations and marking an 18.2% year-over-year revenue growth.

ICONIQ Capital LLC raised its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,408 shares of the ride-sharing company's stock after buying an additional 4,991 shares during the period. ICONIQ Capital LLC's holdings in Uber Technologies were worth $5,057,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Navalign LLC boosted its position in 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 buying an additional 126 shares during the period. Grove Bank & Trust lifted its position in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares during the period. Forum Financial Management LP boosted its stake in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares in the last quarter. Finally, Amplius Wealth Advisors LLC boosted its stake in shares of Uber Technologies by 3.6% during the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of research reports. Bank of America lifted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Roth Capital lifted their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stifel Nicolaus lifted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Piper Sandler lifted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Trading Up 2.6%

Shares of NYSE UBER opened at $96.7020 on Friday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The stock has a market cap of $201.66 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm has a 50-day moving average of $91.08 and a 200 day moving average of $82.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm'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 sale, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.

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.

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