Uber Technologies, Inc. $UBER Shares Acquired by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC increased its stake in Uber Technologies by 29.4% during Q2, acquiring an additional 6,695 shares and raising its holdings to 29,448 shares, valued at approximately $2.75 million.
• Uber reported a quarterly revenue of $12.65 billion, exceeding analyst estimates, with an earnings per share (EPS) of $0.63, beating the consensus by $0.02.
• A majority of institutional investors own 80.24% of Uber's stock, indicating significant institutional confidence in the company’s performance and potential.

GAMMA Investing LLC increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 29.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,448 shares of the ride-sharing company's stock after acquiring an additional 6,695 shares during the quarter. GAMMA Investing LLC's holdings in Uber Technologies were worth $2,747,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in UBER. Brighton Jones LLC increased its position in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Uber Technologies during the fourth quarter worth approximately $395,000. Bison Wealth LLC increased its holdings in shares of Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after acquiring an additional 641 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of Uber Technologies in the 4th quarter valued at $865,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $98.68 on Monday. 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 stock has a market cap of $205.79 billion, a P/E ratio of 16.81 and a beta of 1.43. The company has a 50-day moving average of $92.63 and a two-hundred day moving average of $85.45. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $99.70.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.47 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. As a group, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Cowen restated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Raymond James Financial boosted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Needham & Company LLC upped their price objective on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wedbush lowered their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.06.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,571 shares of company stock valued at $33,810,741 in the last ninety days. 3.70% of the stock is 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.

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