Moran Wealth Management LLC Increases Position in Uber Technologies, Inc. $UBER

Key Points

• Moran Wealth Management LLC increased its position in Uber Technologies by 22.3% during the second quarter, owning a total of 40,823 shares worth approximately $3.8 million.
• Various institutional investors have made substantial changes to their positions in Uber, with Pershing Square Capital Management acquiring a stake valued at about $2.2 billion in the first quarter.
• Recent research reports show an upward trend in price targets for Uber, with analysts from JPMorgan and Needham raising their targets to $110.00 and $109.00, respectively, while maintaining an “overweight” and “buy” rating.

Moran Wealth Management LLC grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 22.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 40,823 shares of the ride-sharing company's stock after buying an additional 7,454 shares during the period. Moran Wealth Management LLC's holdings in Uber Technologies were worth $3,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in UBER. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of 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 valued at $473,456,000 after buying an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 valued at $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of 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 last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UBER has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Needham & Company LLC increased their price target 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. Stifel Nicolaus increased their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wells Fargo & Company cut their price target on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. Finally, Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.06.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at $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 ninety days, insiders sold 601,821 shares of company stock valued at $58,659,491. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Trading Up 0.1%

Shares of Uber Technologies stock opened at $94.21 on Wednesday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $196.47 billion, a PE ratio of 16.05 and a beta of 1.48. The company has a 50-day moving average of $95.07 and a two-hundred day moving average of $88.19.

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. 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 analysts' expectations of $12.45 billion. During the same period last year, the company posted $0.47 earnings per share. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

About Uber Technologies

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.