Forest Avenue Capital Management LP Purchases Shares of 616,778 Uber Technologies, Inc. (NYSE:UBER)

Forest Avenue Capital Management LP purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 616,778 shares of the ride-sharing company’s stock, valued at approximately $44,827,000. Uber Technologies accounts for approximately 6.2% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds have also made changes to their positions in the company. Aptus Capital Advisors LLC lifted its stake in shares of Uber Technologies by 17.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after purchasing an additional 1,383 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Uber Technologies by 2.5% during the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after acquiring an additional 24,059 shares in the last quarter. Brookstone Capital Management boosted its position in Uber Technologies by 19.0% during the 2nd quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock worth $11,082,000 after purchasing an additional 25,814 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in Uber Technologies by 26.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 41,254 shares of the ride-sharing company’s stock valued at $2,998,000 after purchasing an additional 8,614 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Uber Technologies by 70.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock valued at $959,000 after purchasing an additional 6,426 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Activity

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

Uber Technologies Stock Performance

Shares of UBER opened at $73.94 on Friday. 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 company’s fifty day moving average price is $69.60 and its 200 day moving average price is $70.77. The company has a market capitalization of $154.50 billion, a PE ratio of 119.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Wednesday, August 7th. Morgan Stanley lifted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a report on Thursday, September 5th. They set an “overweight” rating and a $90.00 price target for the company. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

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.