Engineers Gate Manager LP Invests $34.94 Million in Uber Technologies, Inc. $UBER

by · The Cerbat Gem

Engineers Gate Manager LP purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 374,497 shares of the ride-sharing company’s stock, valued at approximately $34,941,000. Uber Technologies comprises about 0.4% of Engineers Gate Manager LP’s holdings, making the stock its 25th biggest position.

Several other hedge funds also recently bought and sold shares of the business. Kilter Group LLC bought a new stake in shares of Uber Technologies during the second quarter worth $26,000. West Oak Capital LLC purchased a new position in Uber Technologies in the 2nd quarter worth about $28,000. Truvestments Capital LLC lifted its holdings in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the 2nd quarter valued at about $30,000. Finally, Ransom Advisory Ltd purchased a new stake in Uber Technologies in the 1st quarter valued at about $31,000. Institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 100,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 267,625 shares of company stock valued at $26,774,660. Corporate insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

UBER has been the topic of a number of research reports. DA Davidson raised their target price on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a report on Wednesday, October 29th. Erste Group Bank lowered Uber Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Cantor Fitzgerald raised their price target on Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, Guggenheim decreased their price objective on Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

View Our Latest Stock Report on Uber Technologies

Uber Technologies Price Performance

Shares of UBER stock opened at $85.13 on Friday. The stock’s 50-day moving average is $91.78 and its 200 day moving average is $91.76. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19.

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

Uber Technologies Profile

(Free Report)

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.

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