Resolute Capital Asset Partners LLC Purchases New Holdings in Uber Technologies, Inc. $UBER

Key Points

• Resolute Capital Asset Partners LLC has acquired a new stake in Uber Technologies, Inc., purchasing 30,000 shares valued at approximately $2.186 million, making it the firm's 28th largest position.
• Several institutional investors have recently bought stakes in Uber, contributing to the firm's ownership by institutional investors now totaling 80.24% of the company's stock.
• Uber reported a quarterly earnings EPS of $0.63, surpassing estimates, alongside a year-over-year revenue increase of 18.2% to $12.65 billion.

Resolute Capital Asset Partners LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,000 shares of the ride-sharing company's stock, valued at approximately $2,186,000. Uber Technologies accounts for 1.2% of Resolute Capital Asset Partners LLC's portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UBER. Navalign LLC grew its stake in Uber Technologies by 0.5% during the 4th 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 last quarter. Grove Bank & Trust grew its stake in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after purchasing an additional 133 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its stake in shares of Uber Technologies by 3.6% in the 1st 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 last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on UBER shares. The Goldman Sachs Group lifted their target price on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Tigress Financial set a $110.00 target price on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. KeyCorp lifted their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, DA Davidson lifted their price target on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction 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 sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Uber Technologies Trading Up 2.6%

UBER stock traded up $2.4720 during trading on Friday, reaching $96.7020. 15,568,337 shares of the stock traded hands, compared to its average volume of 18,985,768. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The business's 50 day moving average price is $91.08 and its 200-day moving average price is $83.02. 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 $201.66 billion, a PE ratio of 16.47, a P/E/G ratio of 1.11 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company's revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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.