Uber Technologies, Inc. $UBER Stock Holdings Raised by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. raised its stake in Uber Technologies by 8.5%, now holding approximately 1.48 million shares valued at about $138.1 million, making it Uber's 26th biggest shareholder.
• Several institutional investors, including Nova Wealth Management Inc. and Atticus Wealth Management LLC, significantly increased their holdings in Uber during recent quarters.
• Analysts have set new price targets for Uber, with firms like Wells Fargo and Royal Bank Of Canada lifting their targets to between $100 and $127, maintaining a positive outlook on the stock.

Congress Asset Management Co. raised its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 8.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,480,594 shares of the ride-sharing company's stock after purchasing an additional 116,348 shares during the period. Uber Technologies accounts for approximately 0.9% of Congress Asset Management Co.'s holdings, making the stock its 26th biggest holding. Congress Asset Management Co. owned 0.07% of Uber Technologies worth $138,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nova Wealth Management Inc. increased its position in shares of Uber Technologies by 41.0% in the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Atticus Wealth Management LLC grew its position in shares of Uber Technologies by 39.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock valued at $42,000 after buying an additional 127 shares during the last quarter. Grove Bank & Trust grew its position in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP grew its position in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after buying an additional 138 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UBER shares. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Wells Fargo & Company boosted their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Royal Bank Of Canada boosted their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Susquehanna boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Finally, KeyCorp boosted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average target price of $103.06.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer directly owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction that occurred on 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 directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,571 shares of company stock worth $58,920,741. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 0.2%

Uber Technologies stock opened at $97.60 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $93.13 and a two-hundred day moving average price of $85.95. The firm has a market capitalization of $203.55 billion, a price-to-earnings ratio of 16.63 and a beta of 1.43. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates 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 was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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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