Bornite Capital Management LP Buys Shares of 250,000 Uber Technologies, Inc. (NYSE:UBER)

Bornite Capital Management LP bought a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 250,000 shares of the ride-sharing company’s stock, valued at approximately $19,248,000. Uber Technologies accounts for about 3.2% of Bornite Capital Management LP’s holdings, making the stock its 11th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. lifted its stake in Uber Technologies by 111.6% in the first 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. CVA Family Office LLC bought a new stake in shares of Uber Technologies in the fourth quarter worth about $30,000. Highlander Capital Management LLC increased its holdings in shares of Uber Technologies by 100.0% in the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 250 shares in the last quarter. Bfsg LLC bought a new stake in shares of Uber Technologies in the fourth quarter worth about $31,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Uber Technologies by 49.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UBER shares. Tigress Financial increased their price target on Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Morgan Stanley increased their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Loop Capital decreased their price objective on Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Roth Mkm reiterated a “buy” rating and set a $89.00 price objective (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Finally, Wells Fargo & Company increased their price objective on Uber Technologies from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.97.

Insiders Place Their Bets

In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies 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 transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,984 shares of company stock worth $78,213,297 in the last 90 days. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

NYSE:UBER traded down $0.64 during mid-day trading on Monday, hitting $63.76. 15,702,530 shares of the stock were exchanged, compared to its average volume of 18,865,117. The stock has a market capitalization of $133.23 billion, a price-to-earnings ratio of 102.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.36. The firm’s 50-day simple moving average is $68.56 and its 200 day simple moving average is $71.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter last year, the business earned ($0.08) EPS. Uber Technologies’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 0.85 EPS for the current fiscal 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.