LGT Group Foundation Boosts Stake in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• LGT Group Foundation significantly increased its stake in Uber Technologies by 370.4% during Q1, holding 435,627 shares valued at approximately $31.7 million.
• In recent research reports, several firms raised their price targets for Uber, with Morgan Stanley setting a new target price of $115, while others like Raymond James and Susquehanna both updated their targets to $105.
• Uber reported better-than-expected earnings for the last quarter, with a net margin of 26.68% and a revenue increase of 18.2% year-over-year, contributing to a current consensus rating of "Moderate Buy".

LGT Group Foundation increased its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 370.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,627 shares of the ride-sharing company's stock after buying an additional 343,027 shares during the period. LGT Group Foundation's holdings in Uber Technologies were worth $31,740,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. LGT Fund Management Co Ltd. lifted its position in shares of Uber Technologies by 69.7% in the first quarter. LGT Fund Management Co Ltd. now owns 82,969 shares of the ride-sharing company's stock worth $6,045,000 after buying an additional 34,090 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Uber Technologies by 68.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 18,584 shares of the ride-sharing company's stock worth $1,354,000 after buying an additional 7,534 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of Uber Technologies by 8.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 590,615 shares of the ride-sharing company's stock worth $43,022,000 after buying an additional 47,042 shares in the last quarter. Rathbones Group PLC lifted its position in shares of Uber Technologies by 39.2% in the first quarter. Rathbones Group PLC now owns 1,108,995 shares of the ride-sharing company's stock worth $80,801,000 after buying an additional 312,499 shares in the last quarter. Finally, Callan Family Office LLC lifted its position in shares of Uber Technologies by 46.0% in the first quarter. Callan Family Office LLC now owns 25,490 shares of the ride-sharing company's stock worth $1,857,000 after buying an additional 8,034 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on UBER. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Wedbush decreased their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Raymond James Financial upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Susquehanna upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $90.63 on Tuesday. The company has a market cap of $189.00 billion, a PE ratio of 15.44, a P/E/G ratio of 1.03 and a beta of 1.43. 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 debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50-day simple moving average of $89.58 and a two-hundred day simple moving average of $81.40.

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 for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.