SCP Investment LP Buys 35,000 Shares of Uber Technologies, Inc. (NYSE:UBER)

SCP Investment LP raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 350,000 shares of the ride-sharing company’s stock after buying an additional 35,000 shares during the period. Uber Technologies comprises about 19.1% of SCP Investment LP’s investment portfolio, making the stock its 2nd biggest holding. SCP Investment LP’s holdings in Uber Technologies were worth $26,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. grew its stake in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares in the last quarter. Founders Capital Management acquired a new position in Uber Technologies in the second quarter worth approximately $33,000. Finally, Fairfield Financial Advisors LTD bought a new position in Uber Technologies during the second quarter valued at approximately $36,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on UBER. Oppenheimer boosted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. 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 research report on Friday, November 1st. Truist Financial reduced their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, October 31st. Finally, Raymond James started coverage on Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Price Performance

Shares of UBER stock opened at $69.13 on Wednesday. Uber Technologies, Inc. has a 1 year low of $53.76 and a 1 year high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $75.47 and its 200-day moving average is $71.11. The firm has a market capitalization of $145.57 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 0.73 and a beta of 1.34.

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

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

About Uber Technologies

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.