Kane Investment Management Inc. Makes New $572,000 Investment in Uber Technologies, Inc. $UBER

Kane Investment Management Inc. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,136 shares of the ride-sharing company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBER. Olympiad Research LP acquired a new position in shares of Uber Technologies in the 2nd quarter valued at $242,000. Advisors Capital Management LLC grew its holdings in shares of Uber Technologies by 8.1% during the second quarter. Advisors Capital Management LLC now owns 6,287 shares of the ride-sharing company’s stock worth $587,000 after purchasing an additional 473 shares during the last quarter. WP Advisors LLC grew its position in shares of Uber Technologies by 9.1% during the 2nd quarter. WP Advisors LLC now owns 16,471 shares of the ride-sharing company’s stock worth $1,537,000 after buying an additional 1,378 shares during the period. Donoghue Forlines LLC acquired a new position in Uber Technologies in the second quarter valued at about $2,913,000. Finally, Evolution Wealth Advisors LLC acquired a new position in Uber Technologies during the second quarter worth $244,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the transaction, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 598,875 shares of company stock valued at $58,407,848. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $109.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Mizuho assumed coverage on shares of Uber Technologies in a research report on Monday, September 29th. They set an “outperform” rating and a $130.00 target price for the company. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Cantor Fitzgerald lifted their target price on shares of Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, Morgan Stanley reissued an “overweight” rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $108.26.

Uber Technologies Trading Down 0.2%

Shares of Uber Technologies stock opened at $91.56 on Friday. The stock has a market cap of $190.24 billion, a P/E ratio of 11.77 and a beta of 1.46. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $95.50 and its 200-day simple moving average is $91.66.

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

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.