Sage Mountain Advisors LLC Raises Holdings in Uber Technologies, Inc. (NYSE:UBER)

Sage Mountain Advisors LLC boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 61.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,351 shares of the ride-sharing company’s stock after buying an additional 2,046 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Uber Technologies were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Uber Technologies by 2.2% in 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 buying an additional 3,623,951 shares in the last quarter. Capital World Investors raised its position in shares of Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after acquiring an additional 283,802 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Finally, Norges Bank purchased a new stake in Uber Technologies in the fourth quarter worth $1,415,778,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Uber Technologies from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. DA Davidson boosted their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 target price for the company. The Goldman Sachs Group boosted their price target on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, June 5th. Four investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The shares were 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 directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 89,234 shares of Uber Technologies stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the transaction, the insider now owns 124,945 shares in the company, valued at approximately $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 617,234 shares of company stock worth $44,017,734 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

UBER stock traded up $0.89 during trading on Friday, reaching $73.13. The stock had a trading volume of 12,676,935 shares, compared to its average volume of 18,565,869. The firm has a market cap of $153.64 billion, a PE ratio of 117.95, a PEG ratio of 1.31 and a beta of 1.36. 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 stock’s 50 day moving average is $69.50 and its two-hundred day moving average is $71.46. Uber Technologies, Inc. has a 52 week low of $40.09 and a 52 week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 1.04 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.