Primecap Management Co. CA Buys New Position in Uber Technologies, Inc. $UBER

Key Points

• Primecap Management initiated a position of 414,600 Uber shares in the second quarter, valued at approximately $29.9 million. Institutional investors collectively own 80.24% of Uber’s outstanding stock.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $104.25, despite several firms recently lowering their targets.
• Uber reported quarterly EPS of $0.81, narrowly beating estimates, while revenue rose 12.2% year over year to $14.19 billion. The stock opened at $78.47, well below its 52-week high of $101.99.

Primecap Management Co. CA purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 414,600 shares of the ride-sharing company's stock, valued at approximately $29,918,000.

Several other institutional investors have also added to or reduced their stakes in the business. Osbon Capital Management LLC purchased a new stake in Uber Technologies during the 4th quarter worth approximately $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth $25,000. Portus Wealth Advisors LLC purchased a new stake in shares of Uber Technologies during the first quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Uber Technologies during the third quarter valued at $25,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Uber Technologies in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Analysts Set New Price Targets

UBER has been the subject of a number of research analyst reports. TD Cowen restated a "buy" rating and issued a $118.00 target price on shares of Uber Technologies in a research note on Thursday, July 16th. Sanford C. Bernstein dropped their price target on Uber Technologies from $110.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Bank of America cut their price objective on Uber Technologies from $104.00 to $103.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Wells Fargo & Company dropped their target price on Uber Technologies from $100.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, August 6th. Finally, BNP Paribas Exane lowered Uber Technologies to an "underweight" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $104.25.

Uber Technologies Stock Down 2.3%

Shares of UBER opened at $78.47 on Thursday. Uber Technologies, Inc. has a 52 week low of $65.41 and a 52 week high of $101.99. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $160.28 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 6.47 and a beta of 1.13. The stock's 50-day moving average price is $73.48 and its 200-day moving average price is $73.38.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The ride-sharing company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. Uber Technologies had a return on equity of 43.36% and a net margin of 17.34%.The company had revenue of $14.19 billion during the quarter, compared to analysts' expectations of $14.24 billion. During the same period last year, the business earned $0.60 earnings per share. Uber Technologies's quarterly revenue was up 12.2% on a year-over-year basis. Uber Technologies has set its Q3 2026 guidance at 0.840-0.880 EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 3.39 EPS for the current year.

Key Headlines Impacting Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Uber is expanding its autonomous-vehicle ecosystem. More than 2,000 robotaxis from Pony.ai and Uber are expected to enter European roads, while Baidu’s Apollo Go autonomous vehicles are now available in parts of Dubai through the Uber app. These partnerships support Uber’s long-term platform strategy and could help it benefit from self-driving transportation without bearing all development costs. Uber and Pony.ai are about to unleash more than 2,000 robotaxis on European roads
• Positive Sentiment: Uber launched optional live video streaming for parents and guardians during teen rides. The safety-focused feature may increase trust and usage of teen accounts, although its direct financial impact is likely limited. Uber launches live video streaming for teen accounts
• Positive Sentiment: Citizens JMP reaffirmed a “market outperform” rating and maintained a $100 price target, implying substantial upside from recent trading levels. Uber Eats is also benefiting from relatively resilient consumer demand for food delivery. Citizens JMP rating information
• Neutral Sentiment: Uber recently cleared a procedural hurdle in a California racketeering lawsuit involving alleged fraudulent rideshare injury claims. However, the company also faces a separate class action concerning Uber Eats priority-delivery fees, leaving the overall legal impact uncertain. Uber cleared a key hurdle in its California racketeering lawsuit
• Negative Sentiment: The immediate catalyst for the decrease appears technical rather than a major change in fundamentals. Coverage characterized the move as a pullback while the stock’s chart continues to heal from prior weakness, encouraging short-term profit-taking and caution among traders. Uber Stock Is Trading Lower Today: What’s Going On?

Uber Technologies Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber's principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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