Beech Hill Advisors Inc. Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Beech Hill Advisors Inc. trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER) by 4.2% in the 1st quarter, Holdings Channel reports. The fund owned 103,201 shares of the ride-sharing company’s stock after selling 4,549 shares during the quarter. Uber Technologies accounts for about 3.0% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 5th biggest position. Beech Hill Advisors Inc.’s holdings in Uber Technologies were worth $7,519,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new position in Uber Technologies during the first quarter valued at $219,000. Balefire LLC purchased a new position in Uber Technologies in the first quarter worth about $707,000. LifeSteps Financial Inc. bought a new position in shares of Uber Technologies in the first quarter worth approximately $447,000. Western Wealth Management LLC lifted its stake in shares of Uber Technologies by 103.6% in the first quarter. Western Wealth Management LLC now owns 14,662 shares of the ride-sharing company’s stock worth $1,068,000 after buying an additional 7,461 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Uber Technologies by 2.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 24,017 shares of the ride-sharing company’s stock valued at $1,750,000 after buying an additional 472 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now directly owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $90.88 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $93.60. The business has a 50 day simple moving average of $84.48 and a two-hundred day simple moving average of $74.83. The stock has a market capitalization of $190.05 billion, a PE ratio of 15.92, a P/E/G ratio of 1.17 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business earned ($0.32) earnings per share. Uber Technologies’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of research analyst reports. Wedbush lowered Uber Technologies from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. UBS Group lifted their price objective on Uber Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Cantor Fitzgerald raised their price target on shares of Uber Technologies from $96.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday. DA Davidson increased their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Uber Technologies 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.