1248 Management LLC Has $6.98 Million Stock Holdings in Uber Technologies, Inc. $UBER

1248 Management LLC boosted its position in Uber Technologies, Inc. (NYSE:UBER) by 5.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 95,832 shares of the ride-sharing company’s stock after buying an additional 5,308 shares during the period. Uber Technologies accounts for approximately 2.8% of 1248 Management LLC’s holdings, making the stock its 10th biggest holding. 1248 Management LLC’s holdings in Uber Technologies were worth $6,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. acquired a new position in shares of Uber Technologies during the first quarter worth approximately $2,207,743,000. Northern Trust Corp lifted its position in Uber Technologies by 3.9% in the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after purchasing an additional 720,122 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after purchasing an additional 394,157 shares during the period. Finally, Boston Partners lifted its position in Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock worth $658,686,000 after purchasing an additional 2,749,456 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,696 shares of company stock worth $4,632,774. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

NYSE:UBER opened at $94.72 on Friday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $197.53 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. The firm has a 50-day moving average price of $92.57 and a 200 day moving average price of $84.43.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on UBER. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Barclays reissued an “overweight” rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Loop Capital restated a “buy” rating and set a $105.00 price target (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Cantor Fitzgerald restated an “overweight” rating and set a $106.00 price target (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Wedbush decreased their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.