Mill Creek Capital Advisors LLC Makes New Investment in Uber Technologies, Inc. $UBER

Key Points

• Mill Creek Capital Advisors LLC has invested $227,000 in Uber Technologies, acquiring 3,120 shares of the stock during the first quarter.
• Other institutional investors, including Vanguard Group and Boston Partners, have also increased their stakes in Uber, contributing to a total of 80.24% of the stock being owned by hedge funds and other institutions.
• Uber reported earnings of $0.63 EPS for the last quarter, surpassing analysts' expectations, with revenue rising 18.2% year-over-year.

Mill Creek Capital Advisors LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,120 shares of the ride-sharing company's stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Pacer Advisors Inc. raised its position in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. raised its position in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Toyota Motor Corp bought a new stake in Uber Technologies in the fourth quarter worth about $309,192,000. Jericho Capital Asset Management L.P. bought a new stake in Uber Technologies in the fourth quarter worth about $298,644,000. Finally, Boston Partners raised its position 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 worth $658,686,000 after acquiring an additional 2,749,456 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Citigroup boosted their price objective on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Canaccord Genuity Group restated a "hold" rating and set a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Finally, Bank of America boosted their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Stock Up 1.4%

Shares of NYSE UBER traded up $1.29 during trading hours on Monday, hitting $93.89. The stock had a trading volume of 16,455,027 shares, compared to its average volume of 18,903,182. The company has a market capitalization of $195.80 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.06 and a beta of 1.43. The firm's 50-day moving average price is $90.33 and its two-hundred day moving average price is $82.27. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 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.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies 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 completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by insiders.

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.