Uber Technologies, Inc. (NYSE:UBER) is Timelo Investment Management Inc.'s 4th Largest Position

Key Points

• Timelo Investment Management Inc. increased its stake in Uber Technologies by 48.0% in Q1, making it the company's 4th largest position, with holdings valued at approximately $2.7 million.
• Several institutional investors, including Clark Capital Management Group, significantly increased their positions in Uber, with one growing their stake by an extraordinary 11,354.8%.
• Uber reported earnings of $0.63 per share for the last quarter, surpassing estimates, and showed an 18.2% year-over-year revenue growth to $12.65 billion.

Timelo Investment Management Inc. lifted its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 48.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,000 shares of the ride-sharing company's stock after purchasing an additional 12,000 shares during the period. Uber Technologies accounts for approximately 7.9% of Timelo Investment Management Inc.'s holdings, making the stock its 4th largest position. Timelo Investment Management Inc.'s holdings in Uber Technologies were worth $2,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clark Capital Management Group Inc. increased its stake in Uber Technologies by 11,354.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after buying an additional 399,008 shares in the last quarter. UMB Bank n.a. grew its position in shares of Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Uber Technologies by 65.0% during the fourth 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. Mufg Securities Americas Inc. purchased a new position in shares of Uber Technologies during the fourth quarter valued at about $1,875,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Uber Technologies during the first quarter valued at about $943,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

UBER has been the subject of several analyst reports. Wedbush decreased their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group raised their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Finally, UBS Group raised their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Price Performance

Uber Technologies stock opened at $92.64 on Friday. The firm has a market cap of $193.19 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.05 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. 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 company's 50 day moving average is $90.19 and its two-hundred day moving average is $81.86.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the business earned $0.47 EPS. The company's revenue was up 18.2% on a year-over-year basis. On average, research analysts expect 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.

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