Alcosta Capital Management Inc. Invests $5.15 Million in Uber Technologies, Inc. $UBER

Alcosta Capital Management Inc. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 55,237 shares of the ride-sharing company’s stock, valued at approximately $5,154,000. Uber Technologies comprises approximately 2.9% of Alcosta Capital Management Inc.’s portfolio, making the stock its 19th largest holding.

Other hedge funds also recently modified their holdings of the company. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies during the first quarter valued at about $27,000. West Oak Capital LLC acquired a new position in shares of Uber Technologies in the second quarter valued at approximately $28,000. Truvestments Capital LLC raised its holdings in Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Uber Technologies during the 2nd quarter worth approximately $30,000. Finally, Ransom Advisory Ltd acquired a new stake in Uber Technologies during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 567,625 shares of company stock worth $55,385,660. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the subject of several recent research reports. Guggenheim decreased their price target on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BMO Capital Markets reduced their price objective on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Susquehanna reiterated a “positive” rating and issued a $110.00 price target on shares of Uber Technologies in a research report on Wednesday, November 5th. Finally, Piper Sandler set a $107.00 price target on Uber Technologies in a research note on Wednesday, November 5th. Two 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 company. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $108.26.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $85.79 on Friday. The business has a 50-day moving average price of $93.90 and a two-hundred day moving average price of $91.88. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year 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. The company has a market cap of $178.26 billion, a P/E ratio of 11.03 and a beta of 1.46.

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

Uber Technologies Company 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.