Uber Technologies, Inc. (NYSE:UBER) Stake Lifted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Uber Technologies by 3.2%, acquiring an additional 5,759,353 shares, bringing their total holdings to approximately 186.5 million shares worth $13.59 billion.
• Uber Technologies reported a quarterly earnings per share (EPS) of $0.83, which surpassed the consensus estimate of $0.50, alongside a revenue of $11.53 billion.
• Multiple institutional investors, including Wealthspire Advisors LLC and Comprehensive Financial Planning Inc. PA, have increased their positions in Uber, indicating strong institutional support as they now own over 80% of the company's stock.

Vanguard Group Inc. boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,526,036 shares of the ride-sharing company's stock after acquiring an additional 5,759,353 shares during the period. Vanguard Group Inc. owned about 8.92% of Uber Technologies worth $13,590,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Palacios Wealth Management LLC raised its position in Uber Technologies by 2.2% during the 1st quarter. Palacios Wealth Management LLC now owns 24,471 shares of the ride-sharing company's stock worth $1,783,000 after buying an additional 523 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Uber Technologies by 15.0% in the 1st quarter. Wealthspire Advisors LLC now owns 29,946 shares of the ride-sharing company's stock valued at $2,182,000 after acquiring an additional 3,915 shares during the period. Comprehensive Financial Planning Inc. PA grew its stake in Uber Technologies by 16.8% in the 1st quarter. Comprehensive Financial Planning Inc. PA now owns 1,735 shares of the ride-sharing company's stock valued at $126,000 after acquiring an additional 250 shares during the period. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter valued at $27,000. Finally, Associated Banc Corp acquired a new stake in Uber Technologies during the 1st quarter worth $32,205,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UBER. 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 research report on Monday, July 21st. Loop Capital reiterated a "buy" rating and set a $105.00 price target (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Citigroup increased their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Raymond James Financial downgraded Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group increased their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.71.

Uber Technologies Price Performance

Uber Technologies stock traded up $0.00 during midday trading on Wednesday, reaching $89.39. 40,090,980 shares of the company were exchanged, compared to its average volume of 16,562,547. The firm's 50-day simple moving average is $89.17 and its 200-day simple moving average is $80.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The company has a market capitalization of $186.93 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.