Appaloosa LP Increases Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Appaloosa LP has increased its stake in Uber Technologies by 113.3% in Q1, making it the investment firm's 8th largest position with 3.2 million shares valued at approximately $233 million.
• Several institutional investors, including Pacer Advisors Inc. and Vanguard Group Inc., have significantly increased their holdings in Uber, with the majority of the stock (80.24%) owned by hedge funds and other institutions.
• Analysts have a consensus "Moderate Buy" rating for Uber Technologies, with a price target averaging $102.82, reflecting positive sentiment about the company's growth potential.

Appaloosa LP lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 113.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,200,000 shares of the ride-sharing company's stock after buying an additional 1,700,000 shares during the quarter. Uber Technologies comprises about 2.8% of Appaloosa LP's holdings, making the stock its 8th largest position. Appaloosa LP owned 0.15% of Uber Technologies worth $233,152,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth $27,000. Kozak & Associates Inc. increased its position in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies during the first quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies during the first quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 3,125 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total transaction of $296,875.00. Following the transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock valued at $4,632,774 in the last three months. 3.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on UBER shares. Barclays reissued an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC increased their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Morgan Stanley reissued an "overweight" rating and set a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Down 1.2%

Shares of Uber Technologies stock traded down $1.09 during trading hours on Friday, reaching $90.89. The company's stock had a trading volume of 20,364,649 shares, compared to its average volume of 14,781,707. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The company has a market capitalization of $189.54 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.05 and a beta of 1.43. The stock's fifty day simple moving average is $92.42 and its two-hundred day simple moving average is $84.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last released 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 firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm earned $0.47 earnings per share. The business's quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.