Uber Technologies, Inc. $UBER Shares Purchased by Overbrook Management Corp

Key Points

• Overbrook Management Corp increased its stake in Uber Technologies by 18.2% during Q2, holding 112,719 shares valued at approximately $10.5 million.
• Uber reported better-than-expected Q2 earnings with $0.63 EPS, exceeding estimates by $0.02 and achieving a revenue of $12.65 billion, a year-over-year increase of 18.2%.
• Recent analyst upgrades have raised Uber's target stock prices, with Needham & Company setting a new price objective of $109.00, indicating strong market confidence.

Overbrook Management Corp grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,719 shares of the ride-sharing company's stock after purchasing an additional 17,332 shares during the quarter. Uber Technologies makes up 2.0% of Overbrook Management Corp's investment portfolio, making the stock its 19th largest position. Overbrook Management Corp's holdings in Uber Technologies were worth $10,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kozak & Associates Inc. lifted its holdings in shares of 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 buying an additional 223 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies in the 1st quarter worth $27,000. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the 1st quarter valued at $27,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC boosted its position in Uber Technologies by 305.1% in the 1st 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. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $98.37 on Monday. The firm has a fifty day simple moving average of $93.29 and a 200 day simple moving average of $86.36. The company has a market capitalization of $205.14 billion, a PE ratio of 16.76 and a beta of 1.43. 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 twelve month low of $59.33 and a twelve month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $12.45 billion. During the same quarter last year, the firm posted $0.47 EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, 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 owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,571 shares of company stock worth $58,920,741. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UBER shares. Needham & Company LLC increased their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada raised their price objective on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company boosted their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, KeyCorp upped their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus 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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