Federated Hermes Inc. Purchases 565,639 Shares of Uber Technologies, Inc. $UBER

Federated Hermes Inc. increased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 84.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,238,951 shares of the ride-sharing company’s stock after purchasing an additional 565,639 shares during the quarter. Federated Hermes Inc.’s holdings in Uber Technologies were worth $115,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $2,207,743,000. Norges Bank purchased a new stake in Uber Technologies in the second quarter worth $2,348,319,000. Kingstone Capital Partners Texas LLC boosted its holdings in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Vanguard Group Inc. increased its position in Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares during the period. Finally, Nordea Investment Management AB increased its position in Uber Technologies by 105.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after purchasing an additional 2,807,967 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus set a $122.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Barclays lowered their price objective on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Mizuho initiated coverage on Uber Technologies in a report on Monday, September 29th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler set a $107.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Finally, Guggenheim dropped their price target on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.74.

Uber Technologies Price Performance

UBER opened at $91.25 on Monday. The stock has a 50-day moving average price of $92.80 and a 200-day moving average price of $91.84. 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 firm has a market cap of $189.60 billion, a PE ratio of 11.73 and a beta of 1.19. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

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

Insider Activity

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total transaction of $287,812.50. Following the completion of the transaction, the insider owned 174,135 shares of the company’s stock, valued at approximately $16,037,833.50. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 567,625 shares of company stock worth $55,385,660 over the last 90 days. 3.70% of the stock is currently owned by insiders.

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.