Prime Capital Investment Advisors LLC Grows Holdings in Uber Technologies, Inc. (NYSE:UBER)

Prime Capital Investment Advisors LLC raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 59.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,345 shares of the ride-sharing company’s stock after purchasing an additional 24,856 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Uber Technologies were worth $4,822,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Uber Technologies by 2.2% in the 1st 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 during the period. Capital World Investors lifted its position in shares of Uber Technologies by 0.7% in the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after acquiring an additional 283,802 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD grew 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 worth $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Finally, GQG Partners LLC raised its stake in Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UBER shares. Evercore ISI upped their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley raised their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group boosted their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a research report on Tuesday, July 30th. Finally, Loop Capital lifted their target price on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Price Performance

UBER opened at $72.48 on Monday. The business has a fifty day moving average of $69.41 and a 200 day moving average of $70.89. The stock has a market cap of $151.45 billion, a P/E ratio of 116.90, a PEG ratio of 1.21 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. 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 results on Tuesday, August 6th. The ride-sharing company reported $0.47 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 firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.06 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies 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 $91,046,257.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.