Panagora Asset Management Inc. Has $194.26 Million Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Panagora Asset Management increased its Uber stake by 1.7% in Q2 to 2,082,067 shares — worth about $194.26 million — making UBER its 18th-largest holding.
• Uber posted strong quarterly results, reporting $3.11 EPS (vs. $0.67 est.) and $13.47 billion revenue (up 20.4% year‑over‑year); analysts give a consensus rating of “Moderate Buy” with a $108.26 price target.
• Notable insider selling: CEO Dara Khosrowshahi sold 300,000 shares (and others sold as well), with insiders disposing of 567,625 shares worth about $55.4 million in the last 90 days; insiders now own 3.84% of the company.

Panagora Asset Management Inc. lifted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,082,067 shares of the ride-sharing company's stock after acquiring an additional 35,418 shares during the period. Uber Technologies makes up 0.9% of Panagora Asset Management Inc.'s holdings, making the stock its 18th biggest holding. Panagora Asset Management Inc. owned 0.10% of Uber Technologies worth $194,257,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings 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 in the last quarter. Revolve Wealth Partners LLC raised its position in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares during the last quarter. Bison Wealth LLC lifted its stake in Uber Technologies by 20.3% during the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after acquiring an additional 641 shares in the last quarter. Harbour Investments Inc. lifted its stake in Uber Technologies by 22.4% during the 1st quarter. Harbour Investments Inc. now owns 16,612 shares of the ride-sharing company's stock valued at $1,210,000 after acquiring an additional 3,037 shares in the last quarter. Finally, IFG Advisory LLC boosted its holdings in Uber Technologies by 84.0% during the 1st quarter. IFG Advisory LLC now owns 7,798 shares of the ride-sharing company's stock worth $568,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UBER. Sanford C. Bernstein increased their target price on shares of Uber Technologies from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on shares of Uber Technologies from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. Stifel Nicolaus set a $122.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $108.00 target price on shares of Uber Technologies in a research note on Wednesday, October 29th. Finally, Barclays decreased their price target on Uber Technologies from $110.00 to $107.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.26.

Uber Technologies Trading Up 2.2%

Shares of UBER stock opened at $87.58 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a market cap of $181.98 billion, a P/E ratio of 11.26 and a beta of 1.46. The company has a 50 day moving average of $93.68 and a 200-day moving average of $91.89. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same period in the prior year, the company earned $1.20 earnings per share. Uber Technologies's revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 567,625 shares of company stock worth $55,385,660. 3.84% of the stock is owned by company insiders.

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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