Perpetual Ltd Purchases 670,029 Shares of Uber Technologies, Inc. $UBER

Key Points

• Perpetual Ltd increased its stake in Uber Technologies, Inc. by 5,554.9% in the second quarter, acquiring an additional 670,029 shares for a total of 682,091 shares valued at approximately $63.6 million.
• Uber reported earnings of $0.63 per share for the quarter, exceeding analysts' estimates, with revenues of $12.65 billion, an 18.2% increase year-over-year.
• Institutional investors own 80.24% of Uber's stock, indicating strong institutional confidence, while analysts maintain a consensus rating of "Moderate Buy" with an average price target of $103.06.

Perpetual Ltd grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5,554.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 682,091 shares of the ride-sharing company's stock after acquiring an additional 670,029 shares during the quarter. Perpetual Ltd's holdings in Uber Technologies were worth $63,639,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Kapstone Financial Advisors LLC bought a new stake in Uber Technologies in the 2nd quarter valued at about $415,000. Elk River Wealth Management LLC bought a new stake in shares of Uber Technologies during the 2nd quarter valued at $3,225,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. IFM Investors Pty Ltd lifted its position in shares of Uber Technologies by 4.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 361,229 shares of the ride-sharing company's stock valued at $33,703,000 after acquiring an additional 14,818 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Uber Technologies during the second quarter worth about $58,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Up 1.8%

Shares of NYSE:UBER opened at $94.59 on Friday. The company has a market capitalization of $197.26 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. The business has a fifty day moving average price of $92.56 and a two-hundred day moving average price of $85.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $99.70.

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 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 firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the firm earned $0.47 EPS. The company's revenue was up 18.2% compared to the same quarter last year. Analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction 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 trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,571 shares of company stock valued at $33,810,741 in the last quarter. Insiders own 3.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on UBER shares. Piper Sandler upped their price target 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. KeyCorp upped 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. Cowen restated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Barclays reissued an "overweight" rating and issued a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.06.

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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