Te Ahumairangi Investment Management Ltd Grows Holdings in Uber Technologies, Inc. $UBER

Te Ahumairangi Investment Management Ltd raised its position in Uber Technologies, Inc. (NYSE:UBER) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,964 shares of the ride-sharing company’s stock after buying an additional 3,460 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Uber Technologies were worth $2,516,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of UBER. Connective Capital Management LLC bought a new stake in Uber Technologies during the second quarter worth $3,208,000. Employees Retirement System of Texas increased its position in shares of Uber Technologies by 6.4% during the 2nd quarter. Employees Retirement System of Texas now owns 1,019,708 shares of the ride-sharing company’s stock valued at $95,139,000 after purchasing an additional 61,700 shares during the last quarter. Blue Whale Capital LLP bought a new stake in shares of Uber Technologies during the 2nd quarter worth $79,130,000. Correct Capital Wealth Management boosted its holdings in shares of Uber Technologies by 22.6% in the 2nd quarter. Correct Capital Wealth Management now owns 11,376 shares of the ride-sharing company’s stock worth $1,061,000 after buying an additional 2,100 shares during the last quarter. Finally, Boston Partners increased its holdings in Uber Technologies by 1.4% during the second quarter. Boston Partners now owns 9,158,884 shares of the ride-sharing company’s stock worth $852,834,000 after buying an additional 127,667 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 567,625 shares of company stock worth $55,385,660. Insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

UBER stock opened at $85.79 on Thursday. The firm has a 50 day moving average of $94.07 and a 200-day moving average of $91.92. The firm has a market capitalization of $178.26 billion, a P/E ratio of 11.03 and a beta of 1.46. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research reports. Piper Sandler set a $107.00 target price on shares of Uber Technologies in a research report on Wednesday, November 5th. BMO Capital Markets dropped their price objective on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Wells Fargo & Company dropped their price target on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Susquehanna reiterated a “positive” rating and set a $110.00 target price on shares of Uber Technologies in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.26.

About Uber Technologies

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.