Shell Asset Management Co. Grows Stock Holdings in Uber Technologies, Inc. $UBER

Shell Asset Management Co. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,104 shares of the ride-sharing company’s stock after purchasing an additional 13,738 shares during the period. Shell Asset Management Co.’s holdings in Uber Technologies were worth $13,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UBER. Nova Wealth Management Inc. grew its position in Uber Technologies by 41.0% during the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Atticus Wealth Management LLC grew its stake in Uber Technologies by 39.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 127 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP raised its stake in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after purchasing an additional 136 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after buying an additional 138 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on UBER shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a research report on Saturday, September 27th. UBS Group upped their target price on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Bank of America lifted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company decreased their price target on shares of Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wall Street Zen lowered Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

Uber Technologies Stock Up 3.5%

Uber Technologies stock opened at $100.02 on Tuesday. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company’s 50-day moving average price is $94.12 and its two-hundred day moving average price is $87.40. The stock has a market cap of $208.58 billion, a P/E ratio of 17.04 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

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

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 601,821 shares of company stock worth $58,659,491. Corporate insiders own 3.70% of the company’s stock.

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.