PFG Investments LLC Cuts Stake in Uber Technologies, Inc. $UBER

PFG Investments LLC trimmed its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,432 shares of the ride-sharing company’s stock after selling 803 shares during the period. PFG Investments LLC’s holdings in Uber Technologies were worth $3,866,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter valued at about $28,000. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies during the first quarter valued at about $27,000. Kozak & Associates Inc. grew its position in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Uber Technologies during the 1st quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC grew its holdings in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 299 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 604,571 shares of company stock valued at $58,920,741. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on UBER. Sanford C. Bernstein raised their price target on Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Needham & Company LLC raised their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a report on Monday, July 14th. Barclays reissued an “overweight” rating and issued a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Roth Capital lifted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.09.

Uber Technologies Stock Down 1.6%

Shares of NYSE:UBER opened at $97.94 on Wednesday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The business has a 50 day simple moving average of $93.58 and a two-hundred day simple moving average of $86.64. The firm has a market capitalization of $204.25 billion, a PE ratio of 16.68 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS 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.