Frank Rimerman Advisors LLC Raises Stake in Uber Technologies, Inc. (NYSE:UBER)

Frank Rimerman Advisors LLC increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 7,763.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,366 shares of the ride-sharing company’s stock after purchasing an additional 20,107 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Uber Technologies were worth $1,480,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares in the last quarter. Capital World Investors raised its holdings in shares of Uber Technologies by 0.7% during the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after buying an additional 283,802 shares during the period. Capital Research Global Investors lifted its position in Uber Technologies by 8.2% during the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares during the period. Finally, GQG Partners LLC grew its position in Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson boosted their target price on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and set a $88.00 target price on shares of Uber Technologies in a research note on Friday, September 6th. Piper Sandler lifted their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.60.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Uber Technologies Stock Down 1.8 %

Shares of Uber Technologies stock opened at $73.94 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The business’s fifty day moving average price is $69.60 and its two-hundred day moving average price is $70.66. The company has a market capitalization of $154.50 billion, a P/E ratio of 119.26, a PEG ratio of 1.27 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, research analysts forecast that Uber Technologies, Inc. will post 1.06 EPS 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.