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5 Investors Betting Big on UBER Stock Right Now


  • Uber (UBER) reported its Q4 earnings, beating analyst estimates for both revenue and EPS.
  • Morgan Stanley (MS) is the largest shareholder of the company with ownership of 163.84 million shares.
  • UBER is up by 45% year-to-date.
UBER stock - 5 Investors Betting Big on UBER Stock Right Now

Source: NYCStock / Shutterstock.com

Uber (NYSE:UBER) stock finished the day higher by 5.5% after the ride-hailing company reported its fourth-quarter earnings. Earnings per share (EPS) tallied in at 29 cents, beating analysts estimate of 19 cents, while revenue was $8.6 billion, up 49% year-over-year (YOY) and also beating the estimate of $8.49 billion.

“We ended 2022 with our strongest quarter ever, with robust demand and record margins,” added CEO Dara Khosrowshahi. “Our global scale and unique platform advantages position us well to accelerate this momentum into 2023.”

Meanwhile, gross bookings were $30.7 billion, up 19% YOY. Mobility gross bookings reached $14.9 billion, up 31%, while delivery gross bookings were $14.3 billion, up 6%. Total trips taken during the quarter totaled 2.1 billion, up 19%.

For Q1 of 2023, Uber expects to report gross bookings between $31 and $32 billion, representing growth of 22% at the midpoint on a constant currency basis. The company has also forecasted adjusted EBITDA of between $660 and $700 million.

Wall Street analysts were very impressed with the numbers. RBC Capital analyst Brad Erickson reiterated his price target of $46 and characterized the earnings as Uber’s “Cleanest report since going public.” Wedbush analyst Dan Ives raised his price target to $40 from $38 and said: “We believe this is an inflection quarter/guidance for the Uber story as management sounds very confident in hitting the next gear of growth for 2023 while continuing to grow margins.”

5 Investors Betting Big on UBER Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q3, a healthy 1,069 13F filers disclosed ownership of UBER, an increase of 55 filers from the prior quarter. In total, these 13F filers own 1.44 billion shares, up from 1.41 billion shares. Meanwhile, the institutional put/call ratio sits at an even value of 1.00, down from 1.26. That’s equivalent to 72.86 million puts and 72.64 million calls, implying a neutral options stance.

With that in mind, let’s take a look at the largest shareholders of Uber:

  1. Morgan Stanley (NYSE:MS): 163.84 million shares. Morgan Stanley sold 1.5 million shares during Q3.
  2. Vanguard: 110.53 million shares. Vanguard purchased 6.14 million shares during Q3.
  3. FMR: 107.68 million shares. FMR purchased 28.38 million shares during Q3.
  4. BlackRock (NYSE:BLK): 82.19 million shares. BlackRock purchased 7.64 million shares during Q3.
  5. Public Investment Fund (PIF): 72.84 million shares. PIF’s position remained unchanged during Q3.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/5-investors-betting-big-on-uber-stock-right-now/.

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