Mainstream Capital Management LLC Purchases Shares of 11,694 Uber Technologies, Inc. $UBER

Mainstream Capital Management LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 11,694 shares of the ride-sharing company’s stock, valued at approximately $1,146,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Uber Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after buying an additional 3,025,483 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Uber Technologies by 2.6% in the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after acquiring an additional 1,168,288 shares during the last quarter. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies during the first quarter worth about $2,207,743,000. Norges Bank acquired a new position in Uber Technologies during the second quarter valued at approximately $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC grew its stake in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBER. TD Cowen increased their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 price target on shares of Uber Technologies in a research report on Tuesday, November 4th. Stifel Nicolaus set a $122.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Susquehanna restated a “positive” rating and set a $110.00 price objective on shares of Uber Technologies in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald increased their target price on Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $108.43.

Uber Technologies Stock Up 0.7%

Shares of NYSE:UBER opened at $82.11 on Wednesday. The business’s 50-day moving average is $88.36 and its 200-day moving average is $91.47. Uber Technologies, Inc. has a 1 year low of $60.17 and a 1 year high of $101.99. The company has a market capitalization of $170.61 billion, a price-to-earnings ratio of 10.55 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15.

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

Insider Activity at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total transaction of $251,125.00. Following the transaction, the insider directly owned 175,423 shares of the company’s stock, valued at $14,096,992.28. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction on 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 directly owned 20,330 shares in the company, valued at $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 14,875 shares of company stock valued at $1,348,818. Corporate insiders own 3.70% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.