Carnegie Investment Counsel Boosts Stock Position in Uber Technologies, Inc. $UBER

Carnegie Investment Counsel lifted its position in Uber Technologies, Inc. (NYSE:UBER) by 25.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428,751 shares of the ride-sharing company’s stock after purchasing an additional 87,108 shares during the quarter. Uber Technologies accounts for about 0.8% of Carnegie Investment Counsel’s holdings, making the stock its 29th largest holding. Carnegie Investment Counsel’s holdings in Uber Technologies were worth $40,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Oak Capital LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth about $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Uber Technologies in the 2nd quarter worth about $30,000. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies in the 1st quarter worth about $27,000. Truvestments Capital LLC boosted its holdings in shares of Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares in the last quarter. Finally, REAP Financial Group LLC boosted its holdings in shares of Uber Technologies by 158.2% in the 2nd quarter. REAP Financial Group LLC now owns 408 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 2.6%

UBER stock opened at $94.57 on Friday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business’s 50 day moving average price is $95.40 and its two-hundred day moving average price is $89.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $197.21 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last posted its 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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm 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 business earned $0.47 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,946 shares of company stock worth $58,950,116. Insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Barclays reissued an “overweight” rating and issued a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $110.00 target price on shares of Uber Technologies in a research note on Tuesday. Raymond James Financial boosted their target price 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. Finally, Royal Bank Of Canada boosted their target price on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.70.

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.