Assetmark Inc. Purchases 16,840 Shares of Uber Technologies, Inc. $UBER

Assetmark Inc. lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,360 shares of the ride-sharing company’s stock after acquiring an additional 16,840 shares during the quarter. Assetmark Inc.’s holdings in Uber Technologies were worth $44,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UBER. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies in the first quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC increased its holdings in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. increased its holdings in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Uber Technologies by 105.9% in the second quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after purchasing an additional 2,807,967 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 604,946 shares of company stock valued at $58,950,116 over the last ninety days. Company insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wedbush dropped their price objective on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Raymond James Financial upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Roth Capital boosted their target price on Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus boosted their target price on Uber Technologies from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.82.

Uber Technologies Stock Up 0.8%

NYSE:UBER opened at $96.49 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $201.21 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The stock has a 50-day moving average price of $95.56 and a two-hundred day moving average price of $90.22. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.