Philadelphia Trust Co. Invests $17.28 Million in Uber Technologies, Inc. (NYSE:UBER)

Philadelphia Trust Co. bought a new position in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 237,212 shares of the ride-sharing company’s stock, valued at approximately $17,283,000. Uber Technologies makes up about 1.5% of Philadelphia Trust Co.’s holdings, making the stock its 18th largest holding.

Other hedge funds have also modified their holdings of the company. Noble Wealth Management PBC bought a new stake in Uber Technologies during the 1st quarter worth approximately $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 223 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Uber Technologies during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co grew its position in Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 306 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $92.64 on Friday. The stock has a market capitalization of $193.19 billion, a PE ratio of 15.78, a P/E/G ratio of 1.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $90.19 and a two-hundred day moving average price of $81.86. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71.

Uber Technologies (NYSE:UBER) last announced 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 firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Loop Capital reiterated a “buy” rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Wells Fargo & Company reduced their price target on Uber Technologies from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Sanford C. Bernstein raised their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Finally, UBS Group raised their price target on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.82.

About Uber Technologies

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.