Kingstone Capital Partners Texas LLC Grows Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Kingstone Capital Partners Texas LLC significantly increased its stake in Uber Technologies, acquiring nearly 20 million shares, resulting in a total ownership of approximately 0.96% valued at $1.86 billion.
• Several institutional investors have been active in modifying their holdings in Uber, with institutional ownership now at 80.24% of the company's stock.
• Uber reported impressive quarterly earnings, with a share price of $0.63 per share, beating estimates, and a revenue of $12.65 billion, which is an 18.2% increase compared to the previous year.

Kingstone Capital Partners Texas LLC boosted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 334,075.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,973,682 shares of the ride-sharing company's stock after purchasing an additional 19,967,705 shares during the period. Kingstone Capital Partners Texas LLC owned about 0.96% of Uber Technologies worth $1,863,545,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UBER. Vanguard Group Inc. lifted 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 valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the first quarter worth $2,207,743,000. Northern Trust Corp grew its stake in shares of Uber Technologies by 3.9% during the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after buying an additional 720,122 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Uber Technologies by 3.0% during the first 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 during the period. Finally, Boston Partners lifted its holdings in Uber Technologies by 43.8% in the first 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 during the period. Institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UBER shares. Susquehanna upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Wells Fargo & Company upped their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Stock Up 2.3%

Uber Technologies stock traded up $2.26 during mid-day trading on Monday, hitting $100.77. The company's stock had a trading volume of 17,912,354 shares, compared to its average volume of 21,587,416. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The firm's 50 day moving average is $92.63 and its 200 day moving average is $85.45. 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 $210.14 billion, a PE ratio of 17.17 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates 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 59.96% and a net margin of 26.68%.The firm's revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the sale, the insider directly owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,571 shares of company stock worth $33,810,741. 3.84% of the stock is 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.