Pinnacle Investment Management Ltd Purchases Shares of 20,000 Uber Technologies, Inc. $UBER

Pinnacle Investment Management Ltd purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 20,000 shares of the ride-sharing company’s stock, valued at approximately $1,866,000. Uber Technologies accounts for approximately 10.8% of Pinnacle Investment Management Ltd’s portfolio, making the stock its 3rd biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Kozak & Associates Inc. grew its position in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter worth about $27,000. Vision Financial Markets LLC bought a new position in Uber Technologies during the first quarter worth about $27,000. West Oak Capital LLC bought a new position in Uber Technologies during the second quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 299 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock worth $58,920,741 over the last quarter. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Down 1.2%

NYSE UBER opened at $96.75 on Thursday. The business has a fifty day moving average price of $93.72 and a two-hundred day moving average price of $86.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock has a market capitalization of $201.76 billion, a PE ratio of 16.48 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on UBER shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Stifel Nicolaus lifted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. BMO Capital Markets lifted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Cowen restated a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $104.09.

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.