Philadelphia Trust Co. Buys New Shares in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Philadelphia Trust Co. has purchased a new stake in Uber Technologies, Inc. by acquiring 237,212 shares valued at approximately $17.3 million, making it the company's 18th largest holding.
• 88.24% of Uber's stock is owned by hedge funds and institutional investors, showing significant institutional interest in the company.
• Uber reported a quarterly earnings per share of $0.63, exceeding estimates, with revenue growth of 18.2% year-over-year, showcasing strong financial performance.

Philadelphia Trust Co. bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 237,212 shares of the ride-sharing company's stock, valued at approximately $17,283,000. Uber Technologies accounts for about 1.5% of Philadelphia Trust Co.'s investment portfolio, making the stock its 18th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Navalign LLC grew its stake in Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after buying an additional 126 shares during the period. Grove Bank & Trust grew its stake in Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP grew its stake in Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after buying an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its stake 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 period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 1.4%

NYSE:UBER opened at $92.64 on Friday. The company has a market cap of $193.19 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The business has a 50 day moving average price of $90.19 and a two-hundred day moving average price of $81.86.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly 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 return on equity of 59.96% and a net margin of 26.68%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UBER. KeyCorp upped their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wedbush reduced their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. DA Davidson increased their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets increased their target price 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. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.84% of the stock is owned by corporate insiders.

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.

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