Udine Wealth Management Inc. Sells 7,754 Shares of Uber Technologies, Inc. $UBER

Udine Wealth Management Inc. lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 22.4% during the second quarter, HoldingsChannel.com reports. The fund owned 26,887 shares of the ride-sharing company’s stock after selling 7,754 shares during the quarter. Uber Technologies accounts for about 1.5% of Udine Wealth Management Inc.’s holdings, making the stock its 17th biggest position. Udine Wealth Management Inc.’s holdings in Uber Technologies were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the company. Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies during the 1st quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its position in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock worth $658,686,000 after purchasing an additional 2,749,456 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. The trade was a 10.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,821 shares of company stock worth $58,659,491. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UBER. Needham & Company LLC lifted their price target on Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Sanford C. Bernstein lifted their price target on Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $104.03.

Uber Technologies Stock Down 2.6%

UBER opened at $93.52 on Friday. The company has a 50 day moving average of $94.86 and a 200 day moving average of $87.91. The company has a market cap of $195.03 billion, a PE ratio of 15.93 and a beta of 1.48. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the firm earned $0.47 EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts expect 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.