Bank Pictet & Cie Europe AG Boosts Stock Position in Uber Technologies, Inc. $UBER

Bank Pictet & Cie Europe AG boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 31.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 327,855 shares of the ride-sharing company’s stock after buying an additional 77,619 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Uber Technologies were worth $32,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of UBER. Kilter Group LLC acquired a new position in Uber Technologies in the 2nd quarter valued at about $26,000. Westend Capital Management LLC acquired a new position in Uber Technologies in the third quarter valued at approximately $27,000. West Oak Capital LLC acquired a new position in Uber Technologies in the second quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies in the second quarter valued at $30,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies during the 1st quarter worth $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 0.6%

Shares of NYSE UBER opened at $81.66 on Friday. The company has a market capitalization of $169.68 billion, a price-to-earnings ratio of 10.50 and a beta of 1.21. 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 business has a 50-day moving average of $87.89 and a two-hundred day moving average of $91.33. Uber Technologies, Inc. has a 1 year low of $60.17 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $0.67 by $2.44. The business had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total transaction of $251,125.00. Following the completion of the sale, the insider directly owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,875 shares of company stock valued at $1,348,818. Company insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UBER shares. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price target on shares of Uber Technologies in a research note on Tuesday, November 4th. Mizuho assumed coverage on Uber Technologies in a research note on Monday, September 29th. They set an “outperform” rating and a $130.00 price target on the stock. Wells Fargo & Company decreased their target price on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Tuesday, October 28th. Finally, Piper Sandler set a $107.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.82.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.