Chesley Taft & Associates LLC Grows Position in Uber Technologies, Inc. $UBER

Chesley Taft & Associates LLC grew its position in Uber Technologies, Inc. (NYSE:UBER) by 75.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,569 shares of the ride-sharing company’s stock after acquiring an additional 103,779 shares during the quarter. Uber Technologies accounts for 1.0% of Chesley Taft & Associates LLC’s portfolio, making the stock its 28th biggest holding. Chesley Taft & Associates LLC’s holdings in Uber Technologies were worth $23,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies in the first quarter worth $2,207,743,000. Norges Bank bought a new stake in shares of Uber Technologies in the 2nd quarter worth about $2,348,319,000. Kingstone Capital Partners Texas LLC increased its holdings in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after buying an additional 3,025,483 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Uber Technologies by 105.9% in the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after acquiring an additional 2,807,967 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction that occurred 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 sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 261,750 shares of company stock worth $26,207,693 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. Stifel Nicolaus set a $122.00 price objective on Uber Technologies in a research note on Tuesday, November 4th. Susquehanna reiterated a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a report on Wednesday, November 5th. Truist Financial increased their price target on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. UBS Group set a $122.00 price target on Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $79.05 on Thursday. 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 stock’s fifty day moving average is $90.67 and its two-hundred day moving average is $91.68. Uber Technologies, Inc. has a 52 week low of $59.75 and a 52 week high of $101.99. The company has a market capitalization of $164.24 billion, a PE ratio of 10.16 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.