Panagora Asset Management Inc. Purchases 141,698 Shares of Uber Technologies, Inc. $UBER

Key Points

• Panagora Asset Management Inc. increased its stake in Uber Technologies by 7.4%, owning approximately $149.12 million worth of stock.
• A variety of institutional investors and hedge funds hold 80.24% of Uber's stock, indicating strong institutional interest in the company.
• Uber Technologies reported revenue of $12.65 billion for the last quarter, exceeding analyst estimates and representing an 18.2% year-over-year increase.

Panagora Asset Management Inc. grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,046,649 shares of the ride-sharing company's stock after purchasing an additional 141,698 shares during the quarter. Uber Technologies comprises 0.7% of Panagora Asset Management Inc.'s portfolio, making the stock its 24th biggest holding. Panagora Asset Management Inc. owned approximately 0.10% of Uber Technologies worth $149,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UBER. Brighton Jones LLC grew its position in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after buying an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Uber Technologies during the fourth quarter worth about $395,000. Susquehanna Fundamental Investments LLC acquired a new stake in Uber Technologies during the fourth quarter worth about $908,000. Finally, Bison Wealth LLC grew its position in Uber Technologies by 20.3% during the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock worth $229,000 after buying an additional 641 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is currently owned by insiders.

Uber Technologies Price Performance

Shares of NYSE:UBER traded down $2.16 during trading on Friday, reaching $93.80. The stock had a trading volume of 19,299,778 shares, compared to its average volume of 18,221,276. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. The business's 50-day moving average price is $92.21 and its 200 day moving average price is $83.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $195.61 billion, a PE ratio of 15.98, a P/E/G ratio of 1.08 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted 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 quarter in the previous year, the company posted $0.47 earnings per share. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson lifted their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Sanford C. Bernstein lifted their target price on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company cut their price target on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $102.82.

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.