Virtus Investment Advisers LLC Takes $1.66 Million Position in Uber Technologies, Inc. $UBER

Virtus Investment Advisers LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER) during the second quarter, Holdings Channel reports. The firm bought 17,823 shares of the ride-sharing company’s stock, valued at approximately $1,663,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Colonial Trust Advisors lifted its holdings in Uber Technologies by 83.1% in the second quarter. Colonial Trust Advisors now owns 29,999 shares of the ride-sharing company’s stock valued at $2,799,000 after acquiring an additional 13,612 shares during the period. Norges Bank purchased a new position in shares of Uber Technologies during the 2nd quarter valued at approximately $2,348,319,000. Quadrature Capital Ltd lifted its stake in shares of Uber Technologies by 15.3% in the 2nd quarter. Quadrature Capital Ltd now owns 286,358 shares of the ride-sharing company’s stock valued at $26,711,000 after purchasing an additional 37,989 shares during the period. Scotia Capital Inc. lifted its stake in shares of Uber Technologies by 12.9% in the 2nd quarter. Scotia Capital Inc. now owns 784,044 shares of the ride-sharing company’s stock valued at $73,147,000 after purchasing an additional 89,642 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Uber Technologies by 14.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 916,634 shares of the ride-sharing company’s stock worth $85,522,000 after buying an additional 112,930 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 100,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 567,625 shares of company stock worth $55,385,660 in the last ninety days. 3.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UBER shares. Cantor Fitzgerald lifted their price objective on shares of Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Truist Financial lifted their price target on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. BTIG Research reiterated a “buy” rating and set a $100.00 price target on shares of Uber Technologies in a research report on Tuesday, November 4th. Sanford C. Bernstein raised their price objective on Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.26.

Uber Technologies Price Performance

NYSE:UBER opened at $85.79 on Friday. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The stock has a market cap of $178.26 billion, a PE ratio of 11.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a 50 day moving average price of $93.90 and a 200 day moving average price of $91.88.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS 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.