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

Bornite Capital Management LP acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 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 largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highlander Capital Management LLC lifted its stake in shares of Uber Technologies by 100.0% during the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 250 shares during the period. PFG Investments LLC raised its holdings in shares of Uber Technologies by 374.6% during the first quarter. PFG Investments LLC now owns 63,450 shares of the ride-sharing company’s stock worth $4,885,000 after purchasing an additional 50,080 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Uber Technologies by 54.3% during the fourth quarter. Fifth Third Bancorp now owns 68,894 shares of the ride-sharing company’s stock worth $4,242,000 after purchasing an additional 24,247 shares during the last quarter. US Bancorp DE raised its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock worth $61,310,000 after purchasing an additional 24,059 shares during the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Uber Technologies by 28.1% during the fourth quarter. SVB Wealth LLC now owns 51,341 shares of the ride-sharing company’s stock worth $3,161,000 after purchasing an additional 11,269 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Uber Technologies Trading Down 1.0 %

Shares of UBER stock traded down $0.64 during trading hours on Monday, hitting $63.76. The company had a trading volume of 15,702,530 shares, compared to its average volume of 18,865,117. The company’s fifty day moving average is $68.56 and its 200 day moving average is $71.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick 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. The stock has a market capitalization of $133.23 billion, a PE ratio of 102.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $10.09 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, May 16th. Morgan Stanley raised their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Loop Capital cut their price objective on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Melius assumed coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $89.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.97.

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.