Envestnet Asset Management Inc. Increases Stake in Uber Technologies, Inc. $UBER

Envestnet Asset Management Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 2.7% during the second quarter, Holdings Channel.com reports. The firm owned 4,256,525 shares of the ride-sharing company’s stock after buying an additional 112,732 shares during the period. Envestnet Asset Management Inc.’s holdings in Uber Technologies were worth $397,132,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vision Financial Markets LLC purchased a new position in Uber Technologies in the 1st quarter worth approximately $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $28,000. Truvestments Capital LLC increased its stake in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 339 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $30,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

Shares of UBER stock opened at $94.09 on Monday. The stock has a market cap of $196.21 billion, a price-to-earnings ratio of 16.03 and a beta of 1.48. The business’s fifty day moving average is $95.42 and its 200 day moving average is $89.67. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 604,946 shares of company stock valued at $58,950,116. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

UBER has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Susquehanna boosted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Needham & Company LLC boosted their target price on Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Wedbush reduced their target price on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Finally, Raymond James Financial upped their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.91.

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.