Uber Technologies, Inc. $UBER Shares Purchased by Herbst Group LLC

Key Points

• Herbst Group LLC significantly increased its investment in Uber Technologies, boosting its shareholding by 254.6% during the second quarter, owning 39,360 shares valued at approximately $3.67 million.
• CEO Dara Khosrowshahi sold 300,000 shares of Uber stock, representing a 20.94% decrease in his ownership, while insider sales totaled $58.92 million in the last 90 days.
• Analysts have set new price targets for Uber Technologies, with Morgan Stanley upgrading its rating and raising the price target to $115.00, reflecting strong confidence in the stock's future performance.

Herbst Group LLC boosted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 254.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,360 shares of the ride-sharing company's stock after buying an additional 28,260 shares during the period. Uber Technologies accounts for approximately 2.2% of Herbst Group LLC's portfolio, making the stock its 18th biggest holding. Herbst Group LLC's holdings in Uber Technologies were worth $3,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kozak & Associates Inc. raised its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Uber Technologies during the 1st quarter worth $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies in the first quarter valued at $27,000. West Oak Capital LLC acquired a new position in Uber Technologies in the second quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Buying and Selling

In other news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 604,571 shares of company stock valued at $58,920,741 in the last 90 days. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on UBER shares. Morgan Stanley reissued an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Roth Capital lifted their target price on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Bank of America increased their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC boosted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. One 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Trading Down 0.1%

Shares of UBER stock opened at $97.70 on Thursday. The business's fifty day moving average price is $92.99 and its 200 day moving average price is $85.78. The firm has a market capitalization of $203.75 billion, a PE ratio of 16.64 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping 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 company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the firm earned $0.47 EPS. The business's revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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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