Shellback Capital LP Takes $5.45 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Shellback Capital LP acquired a new position in Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 75,000 shares of the ride-sharing company’s stock, valued at approximately $5,451,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its position 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 worth $26,000 after buying an additional 245 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares during the period. WR Wealth Planners LLC lifted its holdings in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Uber Technologies during the first quarter valued at approximately $32,000. Finally, MCF Advisors LLC boosted its position in shares of Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Down 0.6 %

Shares of NYSE UBER opened at $76.69 on Friday. Uber Technologies, Inc. has a 1 year low of $40.09 and a 1 year high of $82.14. The firm has a 50-day simple moving average of $69.88 and a two-hundred day simple moving average of $70.66. The company has a market cap of $161.11 billion, a P/E ratio of 123.69, a PEG ratio of 1.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. Research analysts anticipate that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Melius Research began coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 target price on the stock. Melius began coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. DA Davidson boosted their price target on Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.67.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.