Natixis Advisors LLC Boosts Stake in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Natixis Advisors LLC significantly increased its stake in Uber by 353.6%, acquiring an additional 958,770 shares, bringing its total ownership to 1,229,922 shares valued at approximately $89.6 million.
• Several hedge funds, including Clark Capital Management and UMB Bank, also made substantial increases in their positions in Uber, indicating strong institutional interest in the company.
• Wall Street analysts are generally optimistic about Uber, with many raising their target prices; notably, JPMorgan and Goldman Sachs both set targets at $110 with an "overweight" and "buy" rating, respectively.

Natixis Advisors LLC increased its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 353.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,229,922 shares of the ride-sharing company's stock after purchasing an additional 958,770 shares during the quarter. Natixis Advisors LLC owned about 0.06% of Uber Technologies worth $89,612,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Toyota Motor Corp bought a new stake in Uber Technologies during the fourth quarter worth about $309,192,000. Jericho Capital Asset Management L.P. bought a new stake in Uber Technologies during the fourth quarter worth about $298,644,000. Finally, Capital World Investors lifted its stake in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UBER shares. DA Davidson lifted their price target on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Loop Capital reiterated a "buy" rating and issued a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Raymond James Financial downgraded Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. The Goldman Sachs Group lifted their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Sanford C. Bernstein lifted their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $100.71.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business'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 value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,384 shares of company stock worth $3,496,071. Insiders own 3.84% of the company's stock.

Uber Technologies Stock Down 1.9%

Shares of UBER stock traded down $1.68 during midday trading on Friday, reaching $86.07. 2,979,379 shares of the stock were exchanged, compared to its average volume of 22,143,549. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $89.14 and its two-hundred day moving average is $80.14. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The firm has a market cap of $179.98 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the previous year, the firm posted ($0.32) EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current 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.