Edgewood Management LLC Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Edgewood Management LLC grew its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,552,060 shares of the ride-sharing company’s stock after purchasing an additional 2,627,768 shares during the quarter. Uber Technologies comprises approximately 5.6% of Edgewood Management LLC’s investment portfolio, making the stock its 4th largest position. Edgewood Management LLC owned approximately 1.31% of Uber Technologies worth $2,070,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after buying an additional 3,179,308 shares during the period. AMF Tjanstepension AB bought a new stake in Uber Technologies in the 3rd quarter valued at about $163,468,000. Janus Henderson Group PLC increased its position in Uber Technologies by 36.3% in the 1st quarter. Janus Henderson Group PLC now owns 8,009,770 shares of the ride-sharing company’s stock valued at $616,613,000 after buying an additional 2,134,621 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new position in Uber Technologies during the 2nd quarter worth approximately $134,987,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $69.71 on Friday. The firm has a market cap of $146.78 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $75.46 and its 200-day moving average is $71.10. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. KeyCorp decreased their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Loop Capital boosted their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $90.32.

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.