QRG Capital Management Inc. Increases Holdings in Uber Technologies, Inc. $UBER

QRG Capital Management Inc. grew its holdings in Uber Technologies, Inc. (NYSE:UBER) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,565 shares of the ride-sharing company’s stock after acquiring an additional 28,992 shares during the period. QRG Capital Management Inc.’s holdings in Uber Technologies were worth $29,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UBER. Brighton Jones LLC grew its holdings in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock worth $4,491,000 after acquiring an additional 2,474 shares during the period. Revolve Wealth Partners LLC boosted its position in 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 worth $939,000 after purchasing an additional 6,129 shares in the last quarter. Bison Wealth LLC grew its stake 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 worth $229,000 after purchasing an additional 641 shares during the period. Matrix Trust Co acquired a new stake in shares of Uber Technologies during the 1st quarter worth approximately $221,000. Finally, Fermata Advisors LLC purchased a new position in shares of Uber Technologies during the 1st quarter valued at approximately $292,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

UBER stock opened at $96.53 on Friday. The business’s 50-day moving average is $93.93 and its two-hundred day moving average is $87.04. 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 firm has a market capitalization of $201.30 billion, a P/E ratio of 16.44 and a beta of 1.48. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion for 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%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. Analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 604,571 shares of company stock valued at $58,920,741. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Roth Capital boosted their price objective on Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Barclays reaffirmed an “overweight” rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

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.