Iron Gate Global Advisors LLC Purchases 107,277 Shares of Uber Technologies, Inc. $UBER

Key Points

• Iron Gate Global Advisors LLC increased its stake in Uber Technologies by 35.3%, acquiring an additional 107,277 shares, bringing its total holdings to 410,792 shares worth approximately $29.93 million.
• Vanguard Group also raised its position in Uber by 3.2%, now owning over 186 million shares valued at around $13.59 billion, while institutional investors own 80.24% of the company's stock.
• Uber's recent quarterly earnings showed an EPS of $0.63, exceeding analysts' estimates, with a net revenue of $12.65 billion, reflecting an 18.2% year-over-year increase.

Iron Gate Global Advisors LLC lifted its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 35.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 410,792 shares of the ride-sharing company's stock after purchasing an additional 107,277 shares during the quarter. Uber Technologies accounts for about 4.1% of Iron Gate Global Advisors LLC's investment portfolio, making the stock its 10th largest holding. Iron Gate Global Advisors LLC's holdings in Uber Technologies were worth $29,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rollins Financial Advisors LLC boosted its position in shares of Uber Technologies by 12.9% in the 1st quarter. Rollins Financial Advisors LLC now owns 7,041 shares of the ride-sharing company's stock valued at $513,000 after purchasing an additional 806 shares during the period. Geneos Wealth Management Inc. lifted its stake in Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock worth $7,483,000 after acquiring an additional 91,362 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Uber Technologies by 1.1% in the 1st quarter. IFM Investors Pty Ltd now owns 346,411 shares of the ride-sharing company's stock worth $25,240,000 after acquiring an additional 3,843 shares in the last quarter. Blue Rock Wealth Management LLC lifted its stake in Uber Technologies by 9.3% in the 1st quarter. Blue Rock Wealth Management LLC now owns 5,900 shares of the ride-sharing company's stock worth $430,000 after acquiring an additional 500 shares in the last quarter. Finally, Fortis Capital Advisors LLC purchased a new stake in Uber Technologies in the 1st quarter worth about $628,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,696 shares of company stock worth $4,632,774. Corporate insiders own 3.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased 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. Sanford C. Bernstein increased their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group increased their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company increased their price objective on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Finally, Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Stock Performance

Shares of UBER stock traded up $1.22 during trading on Friday, reaching $95.90. The company had a trading volume of 13,652,955 shares, compared to its average volume of 14,605,267. The firm's 50 day simple moving average is $92.62 and its two-hundred day simple moving average is $84.64. 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, Inc. has a one year low of $59.33 and a one year high of $97.71. The company has a market capitalization of $199.99 billion, a PE ratio of 16.34, a PEG ratio of 1.09 and a beta of 1.43.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 59.96% and a net margin of 26.68%.The company's revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company 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.