Uber Technologies, Inc. $UBER Shares Bought by Novem Group

Key Points

• Novem Group significantly increased its shareholding in Uber Technologies, upping its stake by 388.0% during the second quarter, bringing its total to 13,557 shares valued at approximately $1.27 million.
• Uber's earnings report showed an earnings per share (EPS) of $0.63, surpassing analysts' expectations, alongside a revenue of $12.65 billion, marking an 18.2% year-over-year increase.
• Recent analyst ratings for Uber have remained positive, with multiple firms increasing their price targets, including Needham raising its target from $100 to $109, contributing to a consensus target price of $103.06.

Novem Group increased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 388.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,557 shares of the ride-sharing company's stock after buying an additional 10,779 shares during the quarter. Novem Group's holdings in Uber Technologies were worth $1,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. boosted its position in Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after purchasing an additional 3,073 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock worth $7,483,000 after purchasing an additional 91,362 shares in the last quarter. Kapstone Financial Advisors LLC purchased a new stake in Uber Technologies in the 2nd quarter worth approximately $415,000. Revolve Wealth Partners LLC boosted its position in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares in the last quarter. Finally, Davis Investment Partners LLC acquired a new position in shares of Uber Technologies during the 2nd quarter worth approximately $435,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Down 0.2%

Shares of UBER opened at $97.60 on Friday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a market capitalization of $203.55 billion, a PE ratio of 16.63 and a beta of 1.43. The stock has a fifty day simple moving average of $93.13 and a two-hundred day simple moving average of $85.95. 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 (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (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 business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the company earned $0.47 EPS. The company's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UBER shares. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC increased 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. Morgan Stanley reissued an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Susquehanna increased their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares of the company's stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is currently owned by company insiders.

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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