Carnegie Investment Counsel Grows Stock Position in Uber Technologies, Inc. $UBER

Carnegie Investment Counsel boosted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 20.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 514,301 shares of the ride-sharing company’s stock after acquiring an additional 85,550 shares during the period. Uber Technologies accounts for about 0.9% of Carnegie Investment Counsel’s investment portfolio, making the stock its 22nd largest position. Carnegie Investment Counsel’s holdings in Uber Technologies were worth $50,386,000 as of its most recent SEC filing.

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

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total transaction of $251,125.00. Following the transaction, the insider directly owned 175,423 shares in the company, valued at approximately $14,096,992.28. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,875 shares of company stock valued at $1,348,818 in the last ninety days. 3.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

UBER has been the topic of several recent analyst reports. DA Davidson increased their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Barclays dropped their price target on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wedbush cut their price target on shares of Uber Technologies from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Sanford C. Bernstein reissued an “outperform” rating on shares of Uber Technologies in a research note on Thursday, December 18th. Finally, BMO Capital Markets dropped their price objective on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $108.43.

Uber Technologies Stock Up 0.1%

Shares of NYSE UBER opened at $81.23 on Friday. The stock has a fifty day moving average price of $88.82 and a 200 day moving average price of $91.44. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12-month low of $60.02 and a 12-month high of $101.99. The company has a market cap of $168.78 billion, a P/E ratio of 10.44 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.25 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Research 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.