Uber Technologies, Inc. (NYSE:UBER) Position Increased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in Uber Technologies, Inc. (NYSE:UBER) by 40.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,713 shares of the ride-sharing company’s stock after purchasing an additional 50,856 shares during the period. NewEdge Advisors LLC’s holdings in Uber Technologies were worth $12,844,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after acquiring an additional 3,623,951 shares during the period. Capital World Investors increased its position in shares of Uber Technologies by 0.7% during the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after purchasing an additional 283,802 shares during the period. Capital Research Global Investors increased its position in shares of Uber Technologies by 8.2% during the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. Finally, GQG Partners LLC increased its position in shares of Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares during the period. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Down 1.2 %

Shares of UBER opened at $75.75 on Monday. The company has a market capitalization of $158.28 billion, a P/E ratio of 122.18, a PEG ratio of 1.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies, Inc. has a one year low of $40.09 and a one year high of $82.14. The business’s 50 day simple moving average is $70.26 and its 200-day simple moving average is $70.64.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the business earned $0.18 EPS. Uber Technologies’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

UBER has been the topic of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $88.00 price target on shares of Uber Technologies in a research report on Friday, September 6th. Wells Fargo & Company reissued an “overweight” rating and set a $97.00 price objective on shares of Uber Technologies in a research note on Friday, September 13th. Oppenheimer raised their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research initiated coverage on Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.81.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

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.