Adage Capital Partners GP L.L.C. Raises Position in Uber Technologies, Inc. $UBER

Adage Capital Partners GP L.L.C. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,663,900 shares of the ride-sharing company’s stock after purchasing an additional 227,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Uber Technologies worth $155,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kilter Group LLC bought a new stake in Uber Technologies in the 2nd quarter worth about $26,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new stake in shares of Uber Technologies in the second quarter worth approximately $30,000. Truvestments Capital LLC grew its stake in shares of Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 339 shares during the period. Finally, REAP Financial Group LLC raised its holdings in shares of Uber Technologies by 158.2% during the second quarter. REAP Financial Group LLC now owns 408 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s 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 completion of the transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction 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 owned 982,544 shares of the company’s stock, valued at $98,726,021.12. The trade was a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 267,625 shares of company stock valued at $26,774,660 over the last three months. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UBER. Stifel Nicolaus set a $122.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Guggenheim dropped their price target on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. DA Davidson lifted their price objective on Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research report on Monday. Finally, UBS Group set a $122.00 target price on Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Uber Technologies Stock Down 0.4%

NYSE UBER opened at $85.13 on Friday. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19. The stock’s 50-day moving average price is $91.78 and its 200-day moving average price is $91.76.

Uber Technologies (NYSE:UBER) last released 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. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share 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.