Burney Co. Takes Position in Uber Technologies, Inc. $UBER

Burney Co. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,575 shares of the ride-sharing company’s stock, valued at approximately $8,286,000.

A number of other hedge funds have also recently added to or reduced their stakes in UBER. Brant Point Investment Management LLC bought a new position in Uber Technologies in the 2nd quarter worth approximately $933,000. Munro Partners acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at $96,294,000. Prudential PLC increased its stake in shares of Uber Technologies by 15.7% in the 2nd quarter. Prudential PLC now owns 216,855 shares of the ride-sharing company’s stock valued at $20,233,000 after buying an additional 29,359 shares during the period. Panagora Asset Management Inc. raised its position in shares of Uber Technologies by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 2,082,067 shares of the ride-sharing company’s stock worth $194,257,000 after acquiring an additional 35,418 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Uber Technologies by 13.9% during the second quarter. M&T Bank Corp now owns 426,163 shares of the ride-sharing company’s stock valued at $39,761,000 after acquiring an additional 52,002 shares during the period. Institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $80.36, for a total value of $251,125.00. Following the sale, the insider directly owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction dated 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 trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 14,875 shares of company stock valued at $1,348,818. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBER. Royal Bank Of Canada set a $110.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Susquehanna restated a “positive” rating and issued a $110.00 price target on shares of Uber Technologies in a research report on Wednesday, November 5th. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $109.00 target price on shares of Uber Technologies in a research note on Tuesday, November 4th. Finally, Erste Group Bank downgraded shares of Uber Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.43.

Uber Technologies Stock Up 0.1%

UBER stock opened at $81.23 on Friday. The company has a market cap of $168.78 billion, a price-to-earnings ratio of 10.44 and a beta of 1.19. Uber Technologies, Inc. has a twelve month low of $60.02 and a twelve month high of $101.99. The business has a 50 day moving average price of $88.82 and a two-hundred day moving average price of $91.44. 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 released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.