Eminence Capital LP Boosts Stake in Uber Technologies, Inc. (NYSE:UBER)

Eminence Capital LP increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 73.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,034,475 shares of the ride-sharing company’s stock after buying an additional 864,779 shares during the quarter. Uber Technologies comprises 2.4% of Eminence Capital LP’s investment portfolio, making the stock its 18th biggest holding. Eminence Capital LP owned about 0.10% of Uber Technologies worth $147,866,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. raised its position in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. increased its stake in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 202 shares during the period. WR Wealth Planners LLC increased its stake in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the period. J.Safra Asset Management Corp acquired a new position in Uber Technologies in the 1st quarter valued at $32,000. Finally, MCF Advisors LLC increased its stake in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on UBER. Melius Research began coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $97.00 price objective on shares of Uber Technologies in a research note on Friday, September 13th. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Finally, Melius initiated coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.67.

Insider Transactions at Uber Technologies

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

Uber Technologies Price Performance

NYSE:UBER opened at $77.13 on Thursday. The firm has a market cap of $162.05 billion, a price-to-earnings ratio of 124.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average is $69.88 and its two-hundred day moving average is $70.66.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.18 EPS. Research analysts expect 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.