Andrew Hill Investment Advisors Inc. Increases Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Andrew Hill Investment Advisors Inc. has increased its stake in Uber Technologies by 84.3% during the 2nd quarter, making it the firm's 5th largest position.
• In insider trading news, CFO Prashanth Mahendra-Rajah and Jill Hazelbaker sold shares worth $3 million and $261,250, respectively, resulting in a notable decrease in their ownership percentages.
• Uber reported earnings of $0.63 per share for the last quarter, exceeding analyst expectations and marking an 18.2% year-over-year revenue growth.

Andrew Hill Investment Advisors Inc. grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 84.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,057 shares of the ride-sharing company's stock after buying an additional 26,562 shares during the quarter. Uber Technologies accounts for about 4.4% of Andrew Hill Investment Advisors Inc.'s holdings, making the stock its 5th biggest position. Andrew Hill Investment Advisors Inc.'s holdings in Uber Technologies were worth $5,417,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in UBER. Nova Wealth Management Inc. increased its holdings in shares of Uber Technologies by 41.0% during the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Navalign LLC increased its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after acquiring an additional 126 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Uber Technologies by 39.8% during the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock valued at $42,000 after acquiring an additional 127 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after acquiring an additional 133 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after acquiring an additional 136 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UBER. Needham & Company LLC lifted their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Bank of America lifted their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. KeyCorp lifted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Price Performance

NYSE UBER traded up $3.98 during trading hours on Friday, reaching $98.68. The company's stock had a trading volume of 38,703,086 shares, compared to its average volume of 16,364,744. The firm's 50-day moving average price is $92.63 and its 200-day moving average price is $85.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $99.70. The company has a market capitalization of $205.79 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.13 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, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the previous year, the firm earned $0.47 EPS. The firm's revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value 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. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the sale, the chief executive officer owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,571 shares of company stock valued at $33,810,741 over the last 90 days. 3.84% of the stock is currently owned by insiders.

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.