TD Asset Management Inc Has $256.37 Million Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• TD Asset Management Inc has increased its stake in Uber Technologies by 82.5%, now holding 2,747,812 shares valued at $256.37 million.
• Major institutional investors like Pershing Square and Vanguard Group have significantly increased their positions in Uber, indicating strong investor interest.
• Recent analyst ratings show a consensus target price of $104.03 for Uber, with several firms upgrading their price targets and maintaining a "buy" rating.

TD Asset Management Inc grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 82.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,747,812 shares of the ride-sharing company's stock after purchasing an additional 1,241,899 shares during the quarter. TD Asset Management Inc owned about 0.13% of Uber Technologies worth $256,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC raised its stake in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the period. Pacer Advisors Inc. raised its stake in 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 worth $473,456,000 after buying an additional 6,254,898 shares during the period. Vanguard Group Inc. raised its stake in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the period. Finally, Boston Partners raised its stake in Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after buying an additional 2,749,456 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tony West sold 100,000 shares of the stock in a transaction 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 transaction, the insider directly owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UBER. Stifel Nicolaus upped their price target on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Cowen reissued a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. UBS Group increased their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Stock Performance

UBER stock opened at $94.14 on Tuesday. The firm has a market cap of $196.32 billion, a PE ratio of 16.04 and a beta of 1.48. 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 business has a 50 day moving average of $94.98 and a 200-day moving average of $88.15. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

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 the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, sell-side analysts expect 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.

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