PFG Advisors Makes New Investment in Uber Technologies, Inc. $UBER

PFG Advisors bought a new position in Uber Technologies, Inc. (NYSE:UBER) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 3,178 shares of the ride-sharing company’s stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors also recently modified their holdings of UBER. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies in the first quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its position in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. 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 valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Uber Technologies by 105.9% during the second quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after purchasing an additional 2,807,967 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the business’s 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 completion of the transaction, the insider owned 171,558 shares in the company, valued at $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Down 0.0%

NYSE:UBER opened at $93.56 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $194.40 billion, a P/E ratio of 12.03 and a beta of 1.46. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The firm has a 50-day simple moving average of $95.50 and a two-hundred day simple moving average of $91.56.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UBER. Barclays decreased their price objective on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Stifel Nicolaus set a $122.00 price target on shares of Uber Technologies in a research note on Tuesday, November 4th. Morgan Stanley reissued an “overweight” rating and set a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company lowered their target price on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.26.

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.