Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Provident Investment Management Inc.

Key Points

• Provident Investment Management Inc. increased its stake in Uber Technologies by 1.6%, owning 334,246 shares now valued at approximately $24.35 million, making it the firm's 18th largest holding.
• Uber reported $0.83 earnings per share for the last quarter, exceeding estimates significantly, with revenue of $11.53 billion, a 13.8% increase year-over-year.
• Analysts have raised their price targets for Uber, with Wells Fargo increasing it to $120.00 and Goldman Sachs to $110.00, reflecting strong market confidence in the company's future performance.

Provident Investment Management Inc. increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334,246 shares of the ride-sharing company's stock after purchasing an additional 5,365 shares during the period. Uber Technologies accounts for 2.3% of Provident Investment Management Inc.'s holdings, making the stock its 18th biggest holding. Provident Investment Management Inc.'s holdings in Uber Technologies were worth $24,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Capital Research Global Investors boosted its position in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Capital World Investors increased its holdings in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after buying an additional 2,792,039 shares during the period. Northern Trust Corp raised its holdings in shares of Uber Technologies by 9.0% during the fourth quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company's stock worth $1,117,158,000 after purchasing an additional 1,528,168 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake 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 buying an additional 6,254,898 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

NYSE UBER traded up $0.00 during trading on Wednesday, reaching $89.39. The company's stock had a trading volume of 40,090,980 shares, compared to its average volume of 16,562,547. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The firm has a market cap of $186.93 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.03 and a beta of 1.43. The business's fifty day moving average price is $89.17 and its 200-day moving average price is $80.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% of the company's stock.

Analyst Ratings Changes

UBER has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Uber Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Roth Capital upped their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Wedbush restated a "neutral" rating and issued a $85.00 price objective on shares of Uber Technologies in a report on Friday, August 1st. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.71.

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.