Tocqueville Asset Management L.P. Acquires New Shares in Uber Technologies, Inc. $UBER

Key Points

• Tocqueville Asset Management L.P. acquired 803,282 shares of Uber Technologies, Inc. for approximately $58.5 million, making it the 20th largest position in their portfolio.
• Several other hedge funds have also made recent investments in Uber, resulting in over 80% of the stock being owned by institutional investors.
• Recent analyst reports have raised Uber's target stock price, with a consensus rating of "Moderate Buy" and an average target price of $102.82.

Tocqueville Asset Management L.P. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 803,282 shares of the ride-sharing company's stock, valued at approximately $58,527,000. Uber Technologies comprises about 1.0% of Tocqueville Asset Management L.P.'s portfolio, making the stock its 20th largest position.

A number of other institutional investors have also recently modified their holdings of UBER. Transce3nd LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies in the fourth quarter worth about $27,000. Kozak & Associates Inc. raised its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC bought a new stake in Uber Technologies during the 1st quarter valued at approximately $27,000. Finally, Vision Financial Markets LLC purchased a new position in Uber Technologies during the 1st quarter valued at approximately $27,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on UBER. Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a "buy" rating in a report on Friday, May 23rd. Stifel Nicolaus lifted their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. BMO Capital Markets boosted their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Roth Capital boosted their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their target price on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Trading Up 1.4%

Shares of NYSE UBER traded up $1.24 during trading on Friday, reaching $92.64. The stock had a trading volume of 15,836,668 shares, compared to its average volume of 18,903,182. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a market cap of $193.19 billion, a P/E ratio of 15.78, a PEG ratio of 1.06 and a beta of 1.43. 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 business's 50-day moving average price is $90.19 and its 200-day moving average price is $82.08.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the previous year, the firm posted $0.47 EPS. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.