Sanders Morris Harris LLC Makes New $2.99 Million Investment in Uber Technologies, Inc. $UBER

Key Points

• Sanders Morris Harris LLC has made a new investment of approximately $2.99 million in Uber Technologies, acquiring 32,000 shares, which now represents 0.7% of their portfolio.
• Analysts have mixed sentiments on Uber's stock, with target prices ranging from $84.00 to $113.00, and a consensus rating of "Moderate Buy."
• In the last three months, insiders have sold a total of 604,946 shares of Uber, worth $58.95 million, raising concerns about insider confidence in the company's stock performance.

Sanders Morris Harris LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,000 shares of the ride-sharing company's stock, valued at approximately $2,986,000. Uber Technologies accounts for about 0.7% of Sanders Morris Harris LLC's portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently modified their holdings of UBER. Vision Financial Markets LLC purchased a new position in Uber Technologies during the first quarter valued at approximately $27,000. West Oak Capital LLC purchased a new position in Uber Technologies during the second quarter valued at $28,000. Truvestments Capital LLC lifted its holdings in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Uber Technologies in the second quarter valued at about $30,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Uber Technologies during the first quarter worth about $31,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UBER. Needham & Company LLC raised their target price on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wedbush decreased their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. BMO Capital Markets increased their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein boosted their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.68.

Uber Technologies Price Performance

UBER stock opened at $93.73 on Tuesday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $195.46 billion, a price-to-earnings ratio of 15.97 and a beta of 1.48. The business has a fifty day moving average of $95.28 and a two-hundred day moving average of $88.93.

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

Insider Activity

In related news, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 604,946 shares of company stock worth $58,950,116 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Company 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.

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