Orion Capital Management LLC Boosts Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Orion Capital Management LLC increased its stake in Uber Technologies by 191.4% in the first quarter, holding 7,117 shares valued at $519,000.
• Several institutional investors have also adjusted their positions in Uber, with 80.24% of the stock now owned by hedge funds and other institutions.
• Analysts have raised their price targets for Uber, with a consensus average price target of $102.82 and the company recently reporting better-than-expected earnings of $0.63 EPS.

Orion Capital Management LLC lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 191.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,117 shares of the ride-sharing company's stock after purchasing an additional 4,675 shares during the period. Orion Capital Management LLC's holdings in Uber Technologies were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of UBER. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the fourth quarter worth $27,000. Kozak & Associates Inc. lifted its stake in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the first quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in Uber Technologies in the first quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after acquiring an additional 299 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group raised their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Bank of America raised their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Price Performance

UBER stock opened at $96.7020 on Monday. The firm has a 50 day moving average price of $91.08 and a 200-day moving average price of $83.02. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The firm has a market capitalization of $201.66 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.11 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 released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion during 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 business's revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS 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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