Convergence Investment Partners LLC Increases Stock Holdings in Uber Technologies, Inc. $UBER

Convergence Investment Partners LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 43.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,000 shares of the ride-sharing company’s stock after purchasing an additional 3,325 shares during the period. Convergence Investment Partners LLC’s holdings in Uber Technologies were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in Uber Technologies by 41.9% in the second quarter. Bessemer Group Inc. now owns 46,008 shares of the ride-sharing company’s stock valued at $4,293,000 after purchasing an additional 13,592 shares during the last quarter. Brookwood Investment Group LLC increased its stake in Uber Technologies by 73.1% in the second quarter. Brookwood Investment Group LLC now owns 6,380 shares of the ride-sharing company’s stock valued at $595,000 after purchasing an additional 2,694 shares during the last quarter. Banco Santander S.A. grew its position in shares of Uber Technologies by 31.1% during the second quarter. Banco Santander S.A. now owns 453,097 shares of the ride-sharing company’s stock worth $42,274,000 after acquiring an additional 107,568 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Uber Technologies by 8.8% during the second quarter. Ashton Thomas Private Wealth LLC now owns 70,095 shares of the ride-sharing company’s stock worth $6,540,000 after acquiring an additional 5,660 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Uber Technologies by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 4,256,525 shares of the ride-sharing company’s stock worth $397,132,000 after acquiring an additional 112,732 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UBER has been the topic of a number of research reports. UBS Group raised their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Piper Sandler raised their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Susquehanna raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their target price on shares of Uber Technologies from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James Financial raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 7th. Three 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 data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $105.91.

Uber Technologies Price Performance

Uber Technologies stock opened at $96.47 on Tuesday. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. 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 business has a fifty day moving average of $95.48 and a two-hundred day moving average of $89.84. The company has a market cap of $201.18 billion, a P/E ratio of 16.43 and a beta of 1.48.

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 analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. As a group, analysts predict 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 news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies 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 completion of the transaction, the chief financial officer owned 22,528 shares of the company’s stock, valued at $2,239,733.76. The trade was a 10.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This trade represents a 36.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 604,946 shares of company stock worth $58,950,116. Insiders own 3.70% of the company’s stock.

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.