BluePath Capital Management LLC Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

BluePath Capital Management LLC boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,274 shares of the ride-sharing company’s stock after acquiring an additional 830 shares during the period. BluePath Capital Management LLC’s holdings in Uber Technologies were worth $560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 buying an additional 43,275,830 shares during the last quarter. Norges Bank acquired a new position in shares of Uber Technologies during the fourth quarter worth about $1,415,778,000. Edgewood Management LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth about $783,401,000. Capital Research Global Investors increased its stake in shares of Uber Technologies by 28.4% during the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock worth $2,273,669,000 after acquiring an additional 8,164,816 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Uber Technologies by 41.0% during the fourth quarter. Northern Trust Corp now owns 17,419,446 shares of the ride-sharing company’s stock worth $1,072,515,000 after acquiring an additional 5,063,412 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UBER shares. Wells Fargo & Company boosted their price target on shares of Uber Technologies from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Piper Sandler boosted their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. DA Davidson reiterated a “buy” rating and set a $81.00 price target on shares of Uber Technologies in a research note on Wednesday, May 8th. Jefferies Financial Group dropped their price target on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Roth Mkm restated a “buy” rating and set a $89.00 target price (down from $91.00) on shares of Uber Technologies in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.41.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tony West sold 89,234 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the sale, the insider now directly owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 635,984 shares of company stock valued at $42,258,297 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Uber Technologies Trading Up 0.8 %

NYSE:UBER traded up $0.60 during trading hours on Wednesday, reaching $71.27. 7,869,481 shares of the company were exchanged, compared to its average volume of 19,285,674. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $148.92 billion, a price-to-earnings ratio of 114.95, a PEG ratio of 1.59 and a beta of 1.36. Uber Technologies, Inc. has a 52-week low of $40.09 and a 52-week high of $82.14. The stock has a 50 day simple moving average of $67.98 and a 200 day simple moving average of $69.96.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. As a group, analysts predict that Uber Technologies, Inc. will post 0.85 EPS for the current year.

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.