Notis McConarty Edward Makes New Investment in Uber Technologies, Inc. $UBER

Key Points

• Notis McConarty Edward has purchased a new position in Uber Technologies, acquiring 14,500 shares valued at approximately $1,353,000 during the second quarter.
• Research firms have set various price targets for Uber, with Bank of America raising its target from $97.00 to $115.00 and issuing a "buy" rating.
• Insider trading activity is notable, with CEO Dara Khosrowshahi selling 150,000 shares valued at $15,072,000, representing a 13.24% decrease in his position.

Notis McConarty Edward purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,500 shares of the ride-sharing company's stock, valued at approximately $1,353,000.

Other hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC acquired a new stake in Uber Technologies in the 2nd quarter worth about $28,000. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies in the 1st quarter worth about $27,000. Kozak & Associates Inc. raised its holdings in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies in the 1st quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on UBER. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Mizuho began coverage on Uber Technologies in a report on Monday, September 29th. They issued an "outperform" rating and a $130.00 price objective on the stock. Bank of America raised 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. Susquehanna raised their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Finally, Wedbush dropped their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $99.32 on Thursday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business has a 50 day moving average price of $94.57 and a two-hundred day moving average price of $87.55. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $207.12 billion, a PE ratio of 16.92 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the firm earned $0.47 EPS. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock worth $58,659,491 over the last quarter. Corporate insiders own 3.84% 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.

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