Uber Technologies, Inc. $UBER Position Lifted by Tenzing Global Management LLC

Key Points

• Tenzing Global Management LLC increased its stake in Uber Technologies by 104.5%, owning 112,500 shares after acquiring an additional 57,500 during the first quarter.
• Uber Technologies' stock opened at $90.89 and experienced a 1.2% decline, with a market capitalization of approximately $189.54 billion.
• Analysts have raised price targets for Uber, with Piper Sandler setting it at $103.00, while BMO Capital Markets increased theirs to $113.00, reflecting strong investor interest and positive growth expectations.

Tenzing Global Management LLC lifted its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 104.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,500 shares of the ride-sharing company's stock after purchasing an additional 57,500 shares during the quarter. Uber Technologies comprises 5.9% of Tenzing Global Management LLC's portfolio, making the stock its 5th biggest holding. Tenzing Global Management LLC's holdings in Uber Technologies were worth $8,197,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of UBER. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter worth approximately $2,207,743,000. Pacer Advisors Inc. boosted its holdings in shares of Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after purchasing an additional 6,254,898 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 3.2% in 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 purchasing an additional 5,759,353 shares during the period. Toyota Motor Corp purchased a new position in shares of Uber Technologies in the 4th quarter worth approximately $309,192,000. Finally, Boston Partners boosted its holdings in shares of Uber Technologies by 43.8% in the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after purchasing an additional 2,749,456 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wedbush decreased their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. KeyCorp raised their price target 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, Sanford C. Bernstein raised their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Stock Up 3.5%

NYSE UBER traded up $3.18 on Monday, reaching $94.17. 18,882,614 shares of the stock traded hands, compared to its average volume of 14,490,310. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average price of $92.44 and a 200-day moving average price of $84.16. The company has a market cap of $196.38 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.04 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71.

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 business 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 revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.