ZEGA Investments LLC Boosts Holdings in Uber Technologies, Inc. $UBER

Key Points

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ZEGA Investments LLC increased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 294.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,715 shares of the ride-sharing company's stock after buying an additional 14,723 shares during the quarter. ZEGA Investments LLC's holdings in Uber Technologies were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after acquiring an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its stake in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in Uber Technologies during the 4th quarter worth approximately $395,000. Jump Financial LLC bought a new stake in Uber Technologies during the 4th quarter worth approximately $618,000. Finally, Dimensional Fund Advisors LP raised its stake in Uber Technologies by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,483 shares of the ride-sharing company's stock worth $178,460,000 after acquiring an additional 87,036 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated 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 directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on UBER shares. BMO Capital Markets raised their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company decreased their target price on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley restated an "overweight" rating and set a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. UBS Group raised their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Barclays reiterated an "overweight" rating and set a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Price Performance

UBER stock opened at $93.89 on Tuesday. The stock has a market cap of $195.80 billion, a PE ratio of 15.99, a P/E/G ratio of 1.06 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $90.33 and a 200 day moving average price of $82.27.

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, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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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