Sandler Capital Management Makes New $3.95 Million Investment in Uber Technologies, Inc. $UBER

Key Points

• Sandler Capital Management acquired a new stake in Uber Technologies, Inc. by purchasing 54,222 shares valued at approximately $3.95 million in the first quarter.
• Several institutional investors increased their stakes in Uber, reflecting a significant ownership of 80.24% by institutional investors overall.
• Uber's latest earnings report revealed a net margin of 26.68% with a revenue of $12.65 billion for the quarter, beating analyst estimates.

Sandler Capital Management acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 54,222 shares of the ride-sharing company's stock, valued at approximately $3,951,000.

Several other institutional investors also recently modified their holdings of UBER. Pershing Square Capital Management L.P. bought a new position in Uber Technologies during the first quarter valued at approximately $2,207,743,000. Pacer Advisors Inc. boosted its stake in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the period. Vanguard Group Inc. boosted its stake in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. Toyota Motor Corp purchased a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $309,192,000. Finally, Boston Partners boosted its stake in shares of Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UBER shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Raymond James Financial raised their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their price target on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Piper Sandler raised their price target on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,696 shares of company stock valued at $4,632,774 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

NYSE UBER traded down $1.09 during trading hours on Friday, hitting $90.89. The company's stock had a trading volume of 20,364,649 shares, compared to its average volume of 14,490,310. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The company's 50 day simple moving average is $92.42 and its two-hundred day simple moving average is $84.05. The company has a market cap of $189.54 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly 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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the company posted $0.47 EPS. The business's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.