Jag Capital Management LLC Purchases 61,897 Shares of Uber Technologies, Inc. $UBER

Key Points

• Jag Capital Management LLC increased its stake in Uber Technologies by 29.8%, acquiring an additional 61,897 shares during the second quarter, bringing their total holdings to $25.2 million.
• Corporate insiders at Uber have been active, selling a total of 601,821 shares worth approximately $58.7 million over the last 90 days.
• Several analysts have raised their target prices for Uber, with Raymond James setting a new price target of $105 and maintaining a "strong-buy" rating.

Jag Capital Management LLC grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 269,716 shares of the ride-sharing company's stock after purchasing an additional 61,897 shares during the period. Uber Technologies comprises about 2.8% of Jag Capital Management LLC's portfolio, making the stock its 10th largest position. Jag Capital Management LLC's holdings in Uber Technologies were worth $25,165,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of UBER. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the first quarter worth $27,000. West Oak Capital LLC acquired a new stake in Uber Technologies in the second quarter worth $28,000. Truvestments Capital LLC raised its holdings in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Uber Technologies in the second quarter worth $30,000. Finally, Ransom Advisory Ltd acquired a new stake in Uber Technologies in the first quarter worth $31,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the 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 completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,821 shares of company stock worth $58,659,491. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Trading Up 0.8%

Uber Technologies stock opened at $94.14 on Tuesday. The firm has a 50-day moving average of $94.98 and a 200-day moving average of $88.15. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $196.32 billion, a price-to-earnings ratio of 16.04 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping 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 the consensus estimate of $12.45 billion. During the same period in the prior year, the business posted $0.47 EPS. The company's quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James Financial increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada raised their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Needham & Company LLC raised their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $104.03.

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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