Rheos Capital Works Inc. Purchases 235,000 Shares of Uber Technologies, Inc. $UBER

Key Points

• Rheos Capital Works Inc. increased its stake in Uber Technologies by 43.1%, purchasing an additional 235,000 shares to hold a total of 780,000 shares, representing about 4.2% of its portfolio.
• Analysts have raised their price targets for Uber, with BMO Capital Markets boosting theirs from $101.00 to $113.00, reflecting a consensus target price of $105.06 for the stock.
• Insider trading has occurred recently, with CFO Prashanth Mahendra-Rajah selling 2,750 shares and insider sales totaling 601,821 shares over the last 90 days.

Rheos Capital Works Inc. lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 43.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 780,000 shares of the ride-sharing company's stock after purchasing an additional 235,000 shares during the period. Uber Technologies accounts for 4.2% of Rheos Capital Works Inc.'s portfolio, making the stock its 5th largest holding. Rheos Capital Works Inc.'s holdings in Uber Technologies were worth $72,774,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Uber Technologies by 20.3% during the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock worth $229,000 after acquiring an additional 641 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Uber Technologies by 319.6% in the first quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company's stock valued at $1,658,000 after purchasing an additional 17,330 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Uber Technologies by 44.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company's stock valued at $15,825,000 after purchasing an additional 66,783 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UBER has been the topic of a number of research reports. BMO Capital Markets upped their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. KeyCorp upped their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Needham & Company LLC upped their price objective on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $105.06.

Uber Technologies Stock Performance

NYSE UBER opened at $94.21 on Wednesday. The firm's 50 day simple moving average is $95.07 and its 200 day simple moving average is $88.19. The firm has a market capitalization of $196.47 billion, a price-to-earnings ratio of 16.05 and a beta of 1.48. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

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, beating analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 over the last ninety days. 3.70% of the stock is owned by insiders.

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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