Mark Asset Management LP Makes New Investment in Uber Technologies Inc (NYSE:UBER)

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Mark Asset Management LP bought a new position in shares of Uber Technologies Inc (NYSE:UBER) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 271,153 shares of the ride-sharing company’s stock, valued at approximately $8,427,000. Uber Technologies comprises approximately 1.6% of Mark Asset Management LP’s investment portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new stake in Uber Technologies during the second quarter worth $30,000. Keebeck Wealth Management LLC bought a new position in shares of Uber Technologies in the 2nd quarter valued at $31,000. Edge Wealth Management LLC lifted its stake in shares of Uber Technologies by 2,857.1% in the 2nd quarter. Edge Wealth Management LLC now owns 1,035 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Berman Capital Advisors LLC lifted its stake in shares of Uber Technologies by 412.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,050 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 845 shares during the last quarter. Finally, Procyon Private Wealth Partners LLC lifted its stake in shares of Uber Technologies by 61.6% in the 1st quarter. Procyon Private Wealth Partners LLC now owns 1,131 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 67.75% of the company’s stock.

In other Uber Technologies news, Director Robert Eckert purchased 15,740 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $31.60 per share, with a total value of $497,384.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tony West sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $30.71, for a total transaction of $61,420.00. Following the completion of the transaction, the insider now directly owns 292,429 shares in the company, valued at approximately $8,980,494.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $189,460. 8.66% of the stock is currently owned by company insiders.

A number of research analysts have recently commented on the company. Raymond James assumed coverage on Uber Technologies in a research note on Wednesday, July 22nd. They issued a “market perform” rating for the company. UBS Group reiterated a “buy” rating and issued a $38.00 price target on shares of Uber Technologies in a research note on Thursday, May 14th. Mizuho increased their price target on Uber Technologies from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wolfe Research upgraded Uber Technologies from a “peer perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $41.00 in a report on Tuesday, May 26th. Finally, Sanford C. Bernstein restated a “buy” rating and issued a $35.00 price objective on shares of Uber Technologies in a report on Thursday, June 11th. Three investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $41.73.

Shares of UBER traded down $0.17 during trading hours on Friday, hitting $33.24. The stock had a trading volume of 17,288,800 shares, compared to its average volume of 22,295,802. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $31.86 and a 200-day simple moving average of $31.18. The firm has a market capitalization of $58.26 billion, a P/E ratio of -8.23 and a beta of 1.19. Uber Technologies Inc has a 1-year low of $13.71 and a 1-year high of $41.86.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, August 6th. The ride-sharing company reported ($1.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.24). The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Uber Technologies had a negative net margin of 50.99% and a negative return on equity of 38.83%. The business’s quarterly revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($4.72) earnings per share. Equities analysts predict that Uber Technologies Inc will post -3.85 EPS for the current fiscal year.

About Uber Technologies

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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