Uber Technologies, Inc. $UBER Stake Raised by Northeast Investment Management

Key Points

• Northeast Investment Management significantly increased its stake in Uber Technologies by 168.2%, owning 91,481 shares worth approximately $8.5 million as of the latest filing.
• Uber's stock price reached $92.29 with a market capitalization of $192.47 billion, and the company reported a revenue of $12.65 billion in its most recent quarter, surpassing analysts' expectations.
• Wall Street analysts have mixed ratings for Uber, with one firm downgrading it to "hold" while others like Barclays and Needham & Company set price targets of $110.00 and $109.00, respectively.

Northeast Investment Management increased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 168.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,481 shares of the ride-sharing company's stock after acquiring an additional 57,369 shares during the period. Northeast Investment Management's holdings in Uber Technologies were worth $8,535,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies during the 1st quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Northern Trust Corp raised its stake in shares of Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after purchasing an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after purchasing an additional 394,157 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UBER. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays reaffirmed an "overweight" rating and set a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC raised their price target on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wells Fargo & Company cut their price target on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Finally, Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $105.68.

Uber Technologies Stock Down 0.2%

Shares of UBER stock opened at $92.29 on Friday. The stock's 50 day simple moving average is $95.22 and its 200 day simple moving average is $88.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a market capitalization of $192.47 billion, a price-to-earnings ratio of 15.72 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the business earned $0.47 EPS. The firm's revenue was up 18.2% compared to the same quarter last year. As a group, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on 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 $2,239,733.76. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 601,821 shares of company stock worth $58,659,491. Insiders own 3.84% of the company's stock.

Uber Technologies 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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