Uber Technologies, Inc. $UBER Stake Increased by Titleist Asset Management LLC

Key Points

• Titleist Asset Management LLC increased its position in Uber Technologies by 52.5% during the first quarter, holding a total of 34,476 shares valued at $2.51 million.
• Several large institutional investors have also raised their stakes in Uber, with notable increases from Baird Financial Group Inc. and Activest Wealth Management.
• Uber's recent earnings report showed a profit of $0.63 per share, exceeding analysts' expectations and marking an 18.2% increase in revenue year-over-year.

Titleist Asset Management LLC grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,476 shares of the ride-sharing company's stock after purchasing an additional 11,872 shares during the period. Titleist Asset Management LLC's holdings in Uber Technologies were worth $2,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Navalign LLC lifted its holdings in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after buying an additional 126 shares during the period. Grove Bank & Trust grew its position in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares during the period. Forum Financial Management LP grew its position in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after acquiring an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its holdings in Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after buying an additional 145 shares during the period. Institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

UBER has been the topic of several recent research reports. Loop Capital restated a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Susquehanna raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Barclays reiterated an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Stock Down 2.3%

Shares of NYSE UBER traded down $2.16 during mid-day trading on Friday, reaching $93.80. The company had a trading volume of 19,299,778 shares, compared to its average volume of 18,221,276. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $92.21 and a two-hundred day simple moving average of $83.63. The stock has a market cap of $195.61 billion, a P/E ratio of 15.98, a PEG ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71.

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

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated 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 directly owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Insiders own 3.70% of the company's stock.

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.