Lazard Freres Gestion S.A.S. Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Lazard Freres Gestion S.A.S. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,000 shares of the ride-sharing company’s stock, valued at approximately $4,058,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Edgewood Management LLC boosted its position in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the period. Legal & General Group Plc raised its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after acquiring an additional 237,976 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after purchasing an additional 1,601,747 shares during the period. Clearbridge Investments LLC grew its stake in Uber Technologies by 9.6% during the 2nd quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock worth $889,956,000 after purchasing an additional 1,076,876 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UBER shares. Evercore ISI lifted their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Tigress Financial increased their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday. UBS Group raised their target price on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada increased their price target on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Price Performance

Shares of UBER stock traded down $0.98 during mid-day trading on Tuesday, reaching $72.44. The stock had a trading volume of 619,031 shares, compared to its average volume of 18,247,289. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month 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 business has a 50-day simple moving average of $75.51 and a 200 day simple moving average of $71.16. The company has a market cap of $152.54 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter last year, the business posted $0.10 earnings per share. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 23.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.