Acadian Asset Management LLC Grows Stock Holdings in Uber Technologies, Inc. $UBER

Acadian Asset Management LLC lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 788.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 525,896 shares of the ride-sharing company’s stock after acquiring an additional 466,728 shares during the period. Acadian Asset Management LLC’s holdings in Uber Technologies were worth $49,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the 2nd quarter valued at $28,000. Truvestments Capital LLC boosted its stake in Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Uber Technologies during the 2nd quarter valued at about $30,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Uber Technologies during the 1st quarter worth approximately $31,000. 80.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Guggenheim dropped their target price on Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. KeyCorp lifted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. UBS Group set a $122.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a research report on Wednesday. Susquehanna restated a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a report on Wednesday. Finally, Truist Financial upped their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies 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 sale, the senior vice president owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $93.00, for a total transaction of $290,625.00. Following the completion of the sale, the insider directly owned 172,846 shares in the company, valued at $16,074,678. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 604,946 shares of company stock worth $58,950,116. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Down 0.1%

Shares of NYSE:UBER opened at $92.03 on Monday. The stock has a market cap of $191.21 billion, a price-to-earnings ratio of 11.83 and a beta of 1.46. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The business has a 50-day moving average price of $95.46 and a 200-day moving average price of $91.32. The company has a quick ratio of 1.15, a current 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, beating the consensus estimate of $0.67 by $2.44. The firm had revenue of $13.47 billion during 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 was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. Equities analysts predict that Uber Technologies, Inc. will post 2.54 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.