Lafayette Investments Inc. Acquires 488 Shares of Uber Technologies, Inc. $UBER

Lafayette Investments Inc. raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 5.9% in the second quarter, Holdings Channel reports. The fund owned 8,826 shares of the ride-sharing company’s stock after purchasing an additional 488 shares during the quarter. Lafayette Investments Inc.’s holdings in Uber Technologies were worth $823,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after acquiring an additional 6,129 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of Uber Technologies by 20.3% during the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after acquiring an additional 641 shares in the last quarter. GAMMA Investing LLC grew its position in Uber Technologies by 319.6% during the 1st quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company’s stock worth $1,658,000 after acquiring an additional 17,330 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Uber Technologies by 44.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company’s stock worth $15,825,000 after acquiring an additional 66,783 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company’s stock, valued at $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,946 shares of company stock valued at $58,950,116. Corporate insiders own 3.70% of the company’s stock.

Uber Technologies Stock Up 1.5%

Shares of Uber Technologies stock opened at $93.73 on Tuesday. The stock’s 50-day moving average is $95.28 and its 200 day moving average is $88.93. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The firm has a market cap of $195.46 billion, a price-to-earnings ratio of 15.97 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.

Uber Technologies (NYSE:UBER) last released 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 company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

UBER has been the topic of a number of recent research reports. Raymond James Financial lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. Guggenheim upgraded shares of Uber Technologies to a “strong-buy” rating in a research report on Wednesday, October 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. BMO Capital Markets lifted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $105.68.

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.