Pacer Advisors Inc. Increases Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Pacer Advisors Inc. significantly increased its holdings in Uber Technologies by 2,571.2% in Q1, owning approximately 6.5 million shares, valued at $473 million, making it its 25th largest holding.
• Analysts have mixed views on Uber's stock, with a consensus rating of "Moderate Buy" and a target price averaging $100.26, while some firms upgraded or lowered their price targets.
• Insider transactions included the sale of shares by executives, with one insider selling 34,884 shares worth over $3 million, indicating potential strategic moves by company management.

Pacer Advisors Inc. raised its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2,571.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,498,167 shares of the ride-sharing company's stock after acquiring an additional 6,254,898 shares during the quarter. Uber Technologies makes up about 1.1% of Pacer Advisors Inc.'s holdings, making the stock its 25th largest holding. Pacer Advisors Inc. owned 0.31% of Uber Technologies worth $473,456,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Navalign LLC increased its holdings in shares of Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after purchasing an additional 126 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after purchasing an additional 133 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC increased its holdings in shares of Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

UBER has been the subject of several analyst reports. Wedbush lowered Uber Technologies from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. TD Cowen lowered their price objective on Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Piper Sandler increased their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday. KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $100.26.

Uber Technologies Stock Up 0.5%

Uber Technologies stock traded up $0.44 during midday trading on Friday, reaching $91.31. The company's stock had a trading volume of 13,845,668 shares, compared to its average volume of 16,021,651. The business has a 50-day simple moving average of $89.29 and a 200-day simple moving average of $79.51. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $97.71. The company has a market cap of $190.94 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.05 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its 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 business had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction dated 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 transaction, the insider owned 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, July 7th. The shares were 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 in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock worth $3,496,071 in the last quarter. Insiders own 3.84% of the company's stock.

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.