Verus Capital Partners LLC Increases Position in Uber Technologies, Inc. (NYSE:UBER)

Verus Capital Partners LLC lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 87.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,485 shares of the ride-sharing company’s stock after buying an additional 3,501 shares during the quarter. Verus Capital Partners LLC’s holdings in Uber Technologies were worth $544,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares in the last quarter. Norges Bank purchased a new position in Uber Technologies in the 4th quarter worth approximately $1,415,778,000. Edgewood Management LLC purchased a new position in Uber Technologies in the 4th quarter worth approximately $783,401,000. Price T Rowe Associates Inc. MD boosted its stake in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. Finally, GQG Partners LLC grew its holdings in Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

UBER has been the topic of several research analyst reports. JMP Securities boosted their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective for the company. Wolfe Research initiated coverage on Uber Technologies in a research report on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price objective for the company. Truist Financial boosted their target price on Uber Technologies from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price target on Uber Technologies from $91.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Uber Technologies Stock Up 1.2 %

Shares of NYSE UBER opened at $73.13 on Tuesday. The stock has a market capitalization of $153.64 billion, a PE ratio of 117.95, a price-to-earnings-growth ratio of 1.31 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14. The stock’s fifty day simple moving average is $69.50 and its two-hundred day simple moving average is $71.42.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, analysts expect that Uber Technologies, Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The disclosure for this sale can be found here. Insiders sold a total of 617,234 shares of company stock worth $44,017,734 in the last 90 days. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Company 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.