General American Investors Co. Inc. Buys New Position in Uber Technologies, Inc. (NYSE:UBER)

General American Investors Co. Inc. purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the ride-sharing company’s stock, valued at approximately $7,268,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its stake in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. WR Wealth Planners LLC raised its position in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of Uber Technologies in the 1st quarter worth about $32,000. MCF Advisors LLC lifted its stake in shares of Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Finally, GW&K Investment Management LLC bought a new stake in Uber Technologies in the fourth quarter worth approximately $33,000. 80.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares in the company, valued at $6,851,103.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on UBER. Bank of America reiterated a “buy” rating and issued a $88.00 price objective on shares of Uber Technologies in a research note on Friday, August 23rd. Roth Mkm upped their price target on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Melius Research assumed coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Piper Sandler upped their target price on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 25th. Finally, Evercore ISI lifted their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Price Performance

UBER opened at $69.58 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $146.18 billion, a P/E ratio of 112.26, a PEG ratio of 1.28 and a beta of 1.33. The stock has a 50-day moving average price of $69.53 and a 200-day moving average price of $71.26. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Equities analysts predict that Uber Technologies, Inc. will post 1.05 earnings per share for the current fiscal year.

Uber Technologies 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.