Uber Technologies, Inc. $UBER Shares Purchased by Patten Group Inc.

Patten Group Inc. raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 26.1% in the second quarter, HoldingsChannel reports. The firm owned 15,484 shares of the ride-sharing company’s stock after acquiring an additional 3,208 shares during the period. Patten Group Inc.’s holdings in Uber Technologies were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its stake in Uber Technologies by 334,075.7% during the 2nd 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 purchasing an additional 19,967,705 shares during the period. Pacer Advisors Inc. boosted its stake in Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the period. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Uber Technologies by 105.9% in the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after acquiring an additional 2,807,967 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Down 0.7%

UBER stock opened at $93.07 on Wednesday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The firm has a market cap of $194.09 billion, a PE ratio of 15.86 and a beta of 1.48. The firm has a 50 day simple moving average of $95.31 and a 200 day simple moving average of $88.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 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 business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UBER. Bank of America upped their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Barclays reaffirmed an “overweight” rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Stifel Nicolaus upped their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Guggenheim raised shares of Uber Technologies to a “strong-buy” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.70.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 3,125 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $93.00, for a total transaction of $290,625.00. Following the completion of the transaction, the insider owned 172,846 shares in the company, valued at approximately $16,074,678. This represents a 1.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,946 shares of company stock valued at $58,950,116 over the last three months. 3.70% of the stock is owned by insiders.

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.