AlTi Global Inc. Boosts Stake in Uber Technologies, Inc. $UBER

AlTi Global Inc. increased its position in Uber Technologies, Inc. (NYSE:UBER) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 513,209 shares of the ride-sharing company’s stock after buying an additional 8,453 shares during the period. Uber Technologies makes up 1.2% of AlTi Global Inc.’s holdings, making the stock its 17th biggest holding. AlTi Global Inc.’s holdings in Uber Technologies were worth $47,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cardinal Point Capital Management ULC lifted its holdings in shares of Uber Technologies by 1.5% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 13,425 shares of the ride-sharing company’s stock valued at $1,253,000 after purchasing an additional 200 shares during the last quarter. Guardian Asset Advisors LLC lifted its holdings in shares of Uber Technologies by 22.1% in the 2nd quarter. Guardian Asset Advisors LLC now owns 11,600 shares of the ride-sharing company’s stock valued at $1,082,000 after purchasing an additional 2,100 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in shares of Uber Technologies by 25.5% in the 2nd quarter. Carnegie Investment Counsel now owns 428,751 shares of the ride-sharing company’s stock valued at $40,002,000 after purchasing an additional 87,108 shares during the last quarter. Avion Wealth lifted its holdings in shares of Uber Technologies by 80.4% in the 2nd quarter. Avion Wealth now owns 803 shares of the ride-sharing company’s stock valued at $74,000 after purchasing an additional 358 shares during the last quarter. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $247,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on 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 sale, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,946 shares of company stock worth $58,950,116 in the last quarter. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UBER shares. UBS Group boosted their target price on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Mizuho began coverage on Uber Technologies in a research note on Monday, September 29th. They set an “outperform” rating and a $130.00 price objective for the company. Bank of America upped their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.70.

Uber Technologies Stock Performance

UBER opened at $94.57 on Friday. The stock has a market cap of $197.21 billion, a P/E ratio of 16.11 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 stock’s 50 day simple moving average is $95.40 and its 200 day simple moving average is $89.18. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99.

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

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.