Uber Technologies, Inc. $UBER Shares Acquired by 1248 Management LLC

Key Points

• 1248 Management LLC increased its stake in Uber Technologies by 5.9%, owning approximately 95,832 shares valued at $6.98 million, making it the company’s 10th largest holding.
• Several institutional investors have significantly purchased shares recently, including Pershing Square Capital Management, which acquired a position worth $2.21 billion, and Pacer Advisors Inc.**, which increased its holdings by 2,571%.
• Uber reported a quarterly earnings per share of $0.63, surpassing analysts' expectations, with revenue reaching $12.65 billion, up 18.2% year-over-year.

1248 Management LLC grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,832 shares of the ride-sharing company's stock after buying an additional 5,308 shares during the quarter. Uber Technologies accounts for 2.8% of 1248 Management LLC's holdings, making the stock its 10th largest holding. 1248 Management LLC's holdings in Uber Technologies were worth $6,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBER. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter worth $2,207,743,000. Pacer Advisors Inc. lifted its holdings in shares of Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Toyota Motor Corp purchased a new stake in shares of Uber Technologies in the 4th quarter valued at about $309,192,000. Finally, Boston Partners raised its stake in Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,696 shares of company stock worth $4,632,774. Company insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on UBER shares. Sanford C. Bernstein upped their price objective on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Raymond James Financial increased their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $94.72 on Friday. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The stock has a market capitalization of $197.53 billion, a P/E ratio of 16.14, a PEG ratio of 1.08 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The business's fifty day moving average price is $92.57 and its 200 day moving average price is $84.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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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