Sagespring Wealth Partners LLC Raises Position in Uber Technologies, Inc. $UBER

Sagespring Wealth Partners LLC grew its position in Uber Technologies, Inc. (NYSE:UBER) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,809 shares of the ride-sharing company’s stock after acquiring an additional 1,408 shares during the period. Sagespring Wealth Partners LLC’s holdings in Uber Technologies were worth $1,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of 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 valued at $1,401,873,000 after acquiring an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $995,801,000 after acquiring an additional 394,157 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 0.1%

Shares of NYSE UBER opened at $94.21 on Wednesday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a market capitalization of $196.47 billion, a PE ratio of 16.05 and a beta of 1.48. 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 firm’s 50-day moving average is $95.07 and its two-hundred day moving average is $88.19.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UBER has been the topic of a number of research analyst reports. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Bank of America boosted their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Needham & Company LLC boosted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Roth Capital boosted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $127.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.06.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $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 have sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is 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.