Wedge Capital Management L L P NC Grows Holdings in Uber Technologies, Inc. $UBER

Key Points

• Wedge Capital Management L L P NC significantly increased its stake in Uber Technologies by 10,763.9% during the second quarter, now owning 424,994 shares worth approximately $39.65 million.
• Insider trading activity saw Jill Hazelbaker sell 31,250 shares for over $3 million, representing a 26.53% decrease in her holdings, while other insiders sold a total of 354,571 shares valued at about $33.81 million in the past three months.
• Uber's latest earnings report indicated a net margin of 26.68% and a year-over-year revenue increase of 18.2%, with analysts expecting an EPS of 2.54 for the current year.

Wedge Capital Management L L P NC lifted its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10,763.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,994 shares of the ride-sharing company's stock after acquiring an additional 421,082 shares during the quarter. Wedge Capital Management L L P NC's holdings in Uber Technologies were worth $39,652,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction dated 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 transaction, the insider owned 86,531 shares of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $93.94, for a total value of $293,562.50. Following the sale, the insider owned 171,558 shares of the company's stock, valued at approximately $16,116,158.52. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,571 shares of company stock valued at $33,810,741. 3.84% of the stock is owned by company insiders.

Uber Technologies Price Performance

NYSE UBER opened at $98.68 on Friday. The stock has a market capitalization of $205.79 billion, a PE ratio of 16.81, a P/E/G ratio of 1.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $92.63 and a 200 day simple moving average of $85.32. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $99.70.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on UBER. Raymond James Financial boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Susquehanna upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wedbush reduced their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.06.

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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