Townsquare Capital LLC Grows Stake in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Townsquare Capital LLC increased its stake in Uber Technologies by 58.8%, owning 52,420 shares valued at approximately $3.82 million as of the first quarter.
• Analyst ratings for Uber indicate a mixed consensus, with a general rating of "Moderate Buy" and an average target price of $102.82 per share.
• CEO Prashanth Mahendra-Rajah sold 2,750 shares recently, reducing his ownership by 11.12%, indicating potential insider confidence issues.

Townsquare Capital LLC grew its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 58.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,420 shares of the ride-sharing company's stock after purchasing an additional 19,419 shares during the period. Townsquare Capital LLC's holdings in Uber Technologies were worth $3,819,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UBER. Brighton Jones LLC grew its position in shares of Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Uber Technologies during the 4th quarter valued at $395,000. Sagespring Wealth Partners LLC purchased a new position in shares of Uber Technologies during the 4th quarter valued at $433,000. Finally, Black Creek Investment Management Inc. grew its position in shares of Uber Technologies by 43.3% during the 4th quarter. Black Creek Investment Management Inc. now owns 244,385 shares of the ride-sharing company's stock valued at $14,741,000 after purchasing an additional 73,810 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UBER has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Roth Capital lifted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Piper Sandler boosted their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $102.82.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.84% of the stock is currently owned by insiders.

Uber Technologies Trading Down 3.3%

NYSE:UBER opened at $89.64 on Monday. The company's 50 day moving average price is $89.44 and its 200-day moving average price is $81.25. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. 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 stock has a market cap of $187.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share 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.

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