Uber Technologies, Inc. $UBER Shares Acquired by Bennett Selby Investments LP

Key Points

• Bennett Selby Investments LP significantly increased its stake in Uber Technologies by 407.0% during the second quarter, owning 26,300 shares worth approximately $2.45 million.
• Several institutional investors, including Vanguard Group and Pershing Square Capital Management, have also increased their positions in Uber, reflecting growing confidence in the company's stock.
• Recent insider trades show senior executives Nikki Krishnamurthy and Tony West sold a total of 111,571 shares, with a combined value approaching $11.1 million, indicating a potential shift in their investment strategy.

Bennett Selby Investments LP lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 407.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,300 shares of the ride-sharing company's stock after buying an additional 21,113 shares during the quarter. Uber Technologies makes up approximately 0.9% of Bennett Selby Investments LP's portfolio, making the stock its 25th biggest position. Bennett Selby Investments LP's holdings in Uber Technologies were worth $2,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. acquired a new position in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its holdings in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Northern Trust Corp boosted its holdings in Uber Technologies by 3.9% in the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after purchasing an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after purchasing an additional 394,157 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 100,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider owned 171,558 shares of the company's stock, valued at $17,220,992.04. This trade represents a 36.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock valued at $58,920,741 in the last 90 days. Company insiders own 3.70% of the company's stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $99.52 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The stock has a 50 day moving average of $93.46 and a two-hundred day moving average of $86.56. The stock has a market cap of $207.53 billion, a P/E ratio of 16.95 and a beta of 1.43.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Susquehanna upped their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Needham & Company LLC upped their price target on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Roth Capital upped their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wedbush lowered their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $103.30.

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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