Occudo Quantitative Strategies LP Makes New Investment in Uber Technologies, Inc. $UBER

by · The Markets Daily

Occudo Quantitative Strategies LP purchased a new position in Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 70,107 shares of the ride-sharing company’s stock, valued at approximately $6,541,000.

Several other institutional investors have also modified their holdings of UBER. Quantinno Capital Management LP raised its holdings in Uber Technologies by 26.8% during the 2nd quarter. Quantinno Capital Management LP now owns 643,705 shares of the ride-sharing company’s stock worth $60,058,000 after buying an additional 136,121 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Uber Technologies by 1.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,223,754 shares of the ride-sharing company’s stock worth $114,137,000 after acquiring an additional 21,543 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Uber Technologies by 6.7% during the second quarter. Diversify Wealth Management LLC now owns 50,280 shares of the ride-sharing company’s stock worth $4,612,000 after acquiring an additional 3,155 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Uber Technologies during the second quarter worth $866,000. Finally, Alliancebernstein L.P. lifted its position in Uber Technologies by 12.8% in the 2nd quarter. Alliancebernstein L.P. now owns 4,608,465 shares of the ride-sharing company’s stock valued at $429,970,000 after acquiring an additional 521,950 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 1.6%

UBER stock opened at $85.47 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 $177.59 billion, a price-to-earnings ratio of 10.99 and a beta of 1.19. The company has a fifty day moving average price of $92.01 and a two-hundred day moving average price of $91.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15.

Uber Technologies (NYSE:UBER – Get Free Report) last posted 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 company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. Uber Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the transaction, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This represents a 13.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tony West sold 3,125 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the transaction, the insider owned 174,135 shares in the company, valued at $16,037,833.50. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 267,625 shares of company stock worth $26,774,660 over the last quarter. Company insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $109.00 price objective on shares of Uber Technologies in a report on Tuesday, November 4th. Morgan Stanley lowered their price target on shares of Uber Technologies from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus set a $122.00 price target on shares of Uber Technologies in a research report on Tuesday, November 4th. Wells Fargo & Company decreased their price objective on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Sanford C. Bernstein raised their target price on shares of Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.60.

Check Out Our Latest Research Report on Uber Technologies

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.

Further Reading

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