Pinnacle Associates Ltd. Has $10.83 Million Stock Holdings in Uber Technologies, Inc. $UBER

Pinnacle Associates Ltd. increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,070 shares of the ride-sharing company’s stock after acquiring an additional 151 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Uber Technologies were worth $10,829,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hilltop National Bank bought a new stake in Uber Technologies in the second quarter valued at about $96,000. Teacher Retirement System of Texas increased its holdings in Uber Technologies by 50.2% in the second quarter. Teacher Retirement System of Texas now owns 548,051 shares of the ride-sharing company’s stock valued at $51,133,000 after purchasing an additional 183,085 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock valued at $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Uber Technologies by 42.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock valued at $70,822,000 after purchasing an additional 226,960 shares during the last quarter. Finally, Kapstone Financial Advisors LLC bought a new stake in Uber Technologies in the second quarter valued at about $415,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tony West sold 100,000 shares of the 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 owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 604,946 shares of company stock valued at $58,950,116 in the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Up 0.2%

NYSE:UBER opened at $96.71 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $201.68 billion, a PE ratio of 16.48 and a beta of 1.48. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The stock has a 50-day simple moving average of $95.56 and a 200 day simple moving average of $90.38.

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

Analysts Set New Price Targets

UBER has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Uber Technologies from $117.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna increased their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus increased their price target on Uber Technologies from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.82.

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.