CX Institutional Buys 85,647 Shares of Uber Technologies, Inc. $UBER

CX Institutional grew its stake in Uber Technologies, Inc. (NYSE:UBER) by 605.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 99,789 shares of the ride-sharing company’s stock after buying an additional 85,647 shares during the quarter. CX Institutional’s holdings in Uber Technologies were worth $7,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in UBER. Vanguard Group Inc. increased its position in shares of Uber Technologies by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 192,499,602 shares of the ride-sharing company’s stock valued at $15,729,142,000 after purchasing an additional 1,670,761 shares during the last quarter. Capital Research Global Investors lifted its position in Uber Technologies by 2.6% in the 4th quarter. Capital Research Global Investors now owns 113,456,376 shares of the ride-sharing company’s stock worth $9,270,561,000 after buying an additional 2,903,021 shares during the last quarter. Geode Capital Management LLC lifted its position in Uber Technologies by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 47,936,203 shares of the ride-sharing company’s stock worth $3,906,083,000 after buying an additional 1,602,596 shares during the last quarter. Norges Bank purchased a new stake in Uber Technologies in the fourth quarter worth approximately $2,515,094,000. Finally, Northern Trust Corp boosted its stake in Uber Technologies by 1.5% in the third quarter. Northern Trust Corp now owns 19,509,042 shares of the ride-sharing company’s stock worth $1,911,301,000 after buying an additional 297,132 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies News Summary

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Investors are anticipating another quarter of growth in Uber’s Mobility and Delivery businesses. The company is expected to benefit from resilient ride demand, expanding delivery operations and improving profitability. Uber Stock: This Upcoming Catalyst Could Send It Higher
• Positive Sentiment: Some investor commentary points to Uber’s strong free-cash-flow generation, share buybacks and relatively modest valuation as reasons the stock could rebound if the company delivers a strong quarter or raises guidance. Uber previously exceeded first-quarter EPS expectations and has guided to second-quarter EPS of approximately $0.78 to $0.82. Uber Stock Opinions on Upcoming Earnings Report
• Neutral Sentiment: Uber’s August 5 earnings call is likely to focus on the Delivery Hero transaction, autonomous-vehicle strategy and the robotaxi program. Prediction-market traders assign high probabilities to discussion of Delivery Hero and Waymo, but show less confidence that Uber will provide significant robotaxi details. Uber Earnings Prediction Market Preview
• Negative Sentiment: Waymo appears to be reducing cooperation with Uber, raising questions about the future of their robotaxi relationship. The reported rift could leave Uber’s autonomous-mobility ambitions more dependent on other partners and increase competitive pressure from Waymo’s directly operated services. Waymo rift leaves Uber’s robotaxi ambitions on shaky ground
• Negative Sentiment: Toyota disclosed that it exited its entire 5.13 million-share Uber position during the second quarter. Although the sale may reflect portfolio management rather than a change in Uber’s fundamentals, it removes a major strategic investor and underscores uncertainty surrounding Uber’s autonomous-driving partnerships. Toyota Exits Entire Uber Stake

Analysts Set New Price Targets

UBER has been the topic of several research reports. Wedbush assumed coverage on shares of Uber Technologies in a research note on Thursday, July 16th. They set an “outperform” rating and a $91.00 price target on the stock. Macquarie Infrastructure raised shares of Uber Technologies to an “outperform” rating in a research note on Monday, May 11th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Uber Technologies in a report on Tuesday. Raymond James Financial upgraded shares of Uber Technologies from an “outperform” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Tigress Financial boosted their price target on shares of Uber Technologies from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.60.

Uber Technologies Stock Performance

NYSE:UBER opened at $72.00 on Wednesday. The firm has a market cap of $146.56 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 6.54 and a beta of 1.13. Uber Technologies, Inc. has a fifty-two week low of $65.41 and a fifty-two week high of $101.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50 day moving average price of $71.83 and a 200-day moving average price of $73.94.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 6th. The ride-sharing company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. Uber Technologies had a net margin of 15.91% and a return on equity of 41.40%. The company had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $13.28 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that Uber Technologies, Inc. will post 2.99 earnings per share for the current year.

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.