Phoenix Financial Ltd. Increases Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Phoenix Financial Ltd. increased its stake in Uber Technologies by 11.1% during the 2nd quarter, acquiring an additional 10,863 shares for a total holding valued at $10,121,000.
• Multiple brokerages, including Guggenheim and JPMorgan Chase, have recently upgraded their ratings on Uber, with new price targets ranging from $110.00 to $113.00.
• In the last quarter, Uber Technologies reported an earnings per share (EPS) of $0.63, exceeding expectations, and its revenue increased by 18.2% year-over-year to $12.65 billion.

Phoenix Financial Ltd. grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 11.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,498 shares of the ride-sharing company's stock after buying an additional 10,863 shares during the period. Phoenix Financial Ltd.'s holdings in Uber Technologies were worth $10,121,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its position in Uber Technologies by 0.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 937,682 shares of the ride-sharing company's stock worth $87,179,000 after purchasing an additional 8,288 shares during the period. Demars Financial Group LLC purchased a new stake in Uber Technologies during the 2nd quarter worth $219,000. Schnieders Capital Management LLC purchased a new stake in Uber Technologies during the 2nd quarter worth $842,000. Crewe Advisors LLC boosted its position in Uber Technologies by 18.6% during the 2nd quarter. Crewe Advisors LLC now owns 875 shares of the ride-sharing company's stock worth $82,000 after purchasing an additional 137 shares during the period. Finally, Lyell Wealth Management LP boosted its position in Uber Technologies by 5.4% during the 2nd quarter. Lyell Wealth Management LP now owns 185,905 shares of the ride-sharing company's stock worth $17,345,000 after purchasing an additional 9,540 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UBER. Guggenheim raised shares of Uber Technologies to a "strong-buy" rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. upped their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Sanford C. Bernstein upped their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets boosted their price objective 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $105.68.

Uber Technologies Stock Performance

Shares of UBER stock opened at $93.73 on Tuesday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. 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 firm has a market capitalization of $195.46 billion, a P/E ratio of 15.97 and a beta of 1.48. The company's fifty day moving average price is $95.28 and its two-hundred day moving average price is $88.93.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,946 shares of company stock worth $58,950,116. Company insiders own 3.70% 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.

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