Long Corridor Asset Management Ltd Takes $18.22 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Long Corridor Asset Management Ltd has acquired a new stake in Uber Technologies, purchasing 250,000 shares valued at approximately $18.22 million, making it the company's second largest position in its investment portfolio.
• While several large investors have modified their holdings, over 80% of Uber's stock is currently owned by institutional investors and hedge funds.
• Uber reported an earnings per share (EPS) of $0.63 for the last quarter, surpassing estimates, with a year-over-year revenue increase of 18.2%, reaching $12.65 billion.

Long Corridor Asset Management Ltd purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,000 shares of the ride-sharing company's stock, valued at approximately $18,215,000. Uber Technologies comprises 13.7% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 2nd biggest position.

Several other large investors have also modified their holdings of UBER. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Uber Technologies by 4.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 58,055 shares of the ride-sharing company's stock valued at $4,230,000 after acquiring an additional 2,629 shares during the last quarter. NFP Retirement Inc. acquired a new stake in shares of Uber Technologies during the 1st quarter worth about $234,000. Triglav Skladi D.O.O. boosted its position in Uber Technologies by 112.8% during the first quarter. Triglav Skladi D.O.O. now owns 116,950 shares of the ride-sharing company's stock worth $8,521,000 after acquiring an additional 62,000 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Uber Technologies by 10,813.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 6,548 shares of the ride-sharing company's stock worth $477,000 after acquiring an additional 6,488 shares during the last quarter. Finally, S Bank Fund Management Ltd acquired a new stake in Uber Technologies during the first quarter worth approximately $824,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UBER shares. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Sanford C. Bernstein raised their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Needham & Company LLC raised 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. Wedbush decreased their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 target price (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company'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 transaction of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Trading Up 1.3%

NYSE:UBER opened at $91.76 on Wednesday. The business's 50-day simple moving average is $89.77 and its 200 day simple moving average is $81.47. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The stock has a market cap of $191.36 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.04 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 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.

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