Uber Technologies, Inc. $UBER Shares Purchased by Elefante Mark B

Key Points

• Elefante Mark B increased its holdings in Uber Technologies by 105.4% during the 2nd quarter, now owning 12,695 shares worth approximately $1,184,000.
• Several hedge funds, including Vision Financial Markets LLC and West Oak Capital LLC, have recently started or increased their positions in Uber, contributing to institutional investors owning 80.24% of the stock.
• Analysts have generally positive outlooks on Uber, with two analysts rating it as a Strong Buy and a consensus target price around $104.03.

Elefante Mark B boosted its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 105.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,695 shares of the ride-sharing company's stock after buying an additional 6,515 shares during the quarter. Uber Technologies accounts for about 0.9% of Elefante Mark B's investment portfolio, making the stock its 29th largest position. Elefante Mark B's holdings in Uber Technologies were worth $1,184,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in UBER. Vision Financial Markets LLC purchased a new position in Uber Technologies during the 1st quarter worth approximately $27,000. West Oak Capital LLC purchased a new position in Uber Technologies during the 2nd quarter worth approximately $28,000. Truvestments Capital LLC grew its position in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in Uber Technologies during the second quarter valued at $30,000. Finally, Ransom Advisory Ltd acquired a new position in Uber Technologies during the first quarter valued at $31,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Ratings Changes

UBER has been the topic of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and set a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Barclays reissued an "overweight" rating and set a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Finally, Bank of America lifted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two research analysts have 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the company's 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 completion of the sale, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock worth $58,659,491 in the last 90 days. Insiders own 3.70% of the company's stock.

Uber Technologies Trading Up 0.8%

Shares of NYSE:UBER opened at $94.14 on Tuesday. The firm has a market capitalization of $196.32 billion, a P/E ratio of 16.04 and a beta of 1.48. The firm has a fifty day moving average of $94.98 and a two-hundred day moving average of $88.15. 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, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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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