Pinnacle Investment Management Ltd Invests $1.87 Million in Uber Technologies, Inc. $UBER

Key Points

• Pinnacle Investment Management Ltd invested approximately $1.87 million in Uber Technologies, acquiring 20,000 shares, which now represent about 10.8% of their portfolio.
• Major institutional investors like Pershing Square and Vanguard have significantly increased their stakes in Uber, indicating strong investor interest with institutional ownership now at 80.24%.
• Analysts have generally expressed a positive outlook on Uber, with various price targets raised; the consensus rating is currently a "Moderate Buy" at an average target price of $104.09.

Pinnacle Investment Management Ltd bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,000 shares of the ride-sharing company's stock, valued at approximately $1,866,000. Uber Technologies comprises approximately 10.8% of Pinnacle Investment Management Ltd's portfolio, making the stock its 3rd biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the first quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC raised 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 last quarter. Pacer Advisors Inc. raised its position in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Finally, Boston Partners raised its position in shares of Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on UBER shares. Piper Sandler upped their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wedbush lowered their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Bank of America upped their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $104.09.

Insider Buying and Selling at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company's stock, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,571 shares of company stock valued at $58,920,741 in the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Down 1.2%

Shares of UBER stock opened at $96.75 on Thursday. The firm has a fifty day moving average of $93.72 and a 200-day moving average of $86.71. 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 12-month low of $59.33 and a 12-month high of $101.99. The company has a market capitalization of $201.76 billion, a price-to-earnings ratio of 16.48 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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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