Procyon Advisors LLC Cuts Stock Position in Uber Technologies, Inc. $UBER

Procyon Advisors LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 39.3% in the second quarter, HoldingsChannel reports. The fund owned 5,786 shares of the ride-sharing company’s stock after selling 3,753 shares during the quarter. Procyon Advisors LLC’s holdings in Uber Technologies were worth $540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the 4th quarter worth $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the first quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the first quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 299 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UBER. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Sanford C. Bernstein lifted their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Wedbush dropped their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Piper Sandler raised their target price on Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.06.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,571 shares of company stock valued at $33,810,741 in the last quarter. 3.84% of the stock is currently owned by insiders.

Uber Technologies Stock Up 1.8%

Uber Technologies stock opened at $94.59 on Friday. The business’s 50-day moving average price is $92.56 and its 200 day moving average price is $85.15. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $197.26 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $99.70.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company 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.