Allen Investment Management LLC Raises Position in Uber Technologies, Inc. (NYSE:UBER)

Allen Investment Management LLC increased its stake in Uber Technologies, Inc. (NYSE:UBER) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,363,437 shares of the ride-sharing company’s stock after purchasing an additional 25,146 shares during the quarter. Uber Technologies comprises about 4.7% of Allen Investment Management LLC’s holdings, making the stock its 9th largest position. Allen Investment Management LLC owned 0.26% of Uber Technologies worth $389,815,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Uber Technologies by 23.4% in the fourth quarter. International Assets Investment Management LLC now owns 11,739 shares of the ride-sharing company’s stock valued at $723,000 after acquiring an additional 2,225 shares during the period. Precision Wealth Strategies LLC bought a new position in Uber Technologies in the 4th quarter valued at $444,000. 9258 Wealth Management LLC grew its position in shares of Uber Technologies by 52.6% during the 4th quarter. 9258 Wealth Management LLC now owns 12,138 shares of the ride-sharing company’s stock valued at $747,000 after purchasing an additional 4,185 shares in the last quarter. Rollins Financial bought a new position in shares of Uber Technologies in the fourth quarter worth $265,000. Finally, Jump Financial LLC purchased a new stake in shares of Uber Technologies in the fourth quarter worth $1,043,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $72.48 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day simple moving average of $69.41 and a two-hundred day simple moving average of $70.99. Uber Technologies, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The company has a market capitalization of $152.28 billion, a price-to-earnings ratio of 116.90, a P/E/G ratio of 1.25 and a beta of 1.33.

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, beating analysts’ consensus estimates of $0.31 by $0.16. The firm 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 revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Analysts expect that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UBER shares. TD Cowen upped their target price on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and set a $88.00 target price on shares of Uber Technologies in a research report on Friday, September 6th. Citigroup increased their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $97.00 target price on shares of Uber Technologies in a research report on Friday. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies 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 value 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 approximately $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.84% of the company’s stock.

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.