Ieq Capital LLC Purchases 63,343 Shares of Uber Technologies, Inc. $UBER

Key Points

• Ieq Capital LLC increased its stake in Uber Technologies by 20.5% in Q1, purchasing an additional 63,343 shares, bringing its total holdings to 372,359 shares valued at $27.13 million.
• Wall Street analysts remain optimistic about Uber, with most giving it a "buy" rating, and an average price target of $102.82.
• Uber reported a strong quarterly performance with $0.63 EPS, surpassing estimates, and a revenue increase of 18.2% year-over-year to $12.65 billion.

Ieq Capital LLC grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,359 shares of the ride-sharing company's stock after purchasing an additional 63,343 shares during the quarter. Ieq Capital LLC's holdings in Uber Technologies were worth $27,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Northern Trust Corp raised its stake in Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after purchasing an additional 720,122 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after purchasing an additional 394,157 shares in the last quarter. Boston Partners grew its holdings in Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after buying an additional 2,749,456 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after buying an additional 6,254,898 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UBER. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Wedbush cut their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Citigroup lifted their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Bank of America increased their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Loop Capital reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. One investment 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. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Stock Performance

NYSE UBER opened at $96.71 on Wednesday. The business's 50 day moving average price is $91.52 and its 200-day moving average price is $83.26. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a market cap of $201.69 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current 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, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the company earned $0.47 earnings per share. Uber Technologies's revenue was up 18.2% on a year-over-year basis. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 31,250 shares of the 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 in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,571 shares of company stock valued at $4,335,899. Company insiders own 3.70% of the company's stock.

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.

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