Cookson Peirce & Co. Inc. Decreases Stake in Uber Technologies, Inc. $UBER

Cookson Peirce & Co. Inc. cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 34.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,706 shares of the ride-sharing company’s stock after selling 6,788 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Uber Technologies were worth $1,185,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vision Financial Markets LLC bought a new stake in shares of Uber Technologies during the first quarter valued at approximately $27,000. West Oak Capital LLC bought a new stake in Uber Technologies in the second quarter worth $28,000. Truvestments Capital LLC boosted its holdings in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Uber Technologies in the second quarter worth $30,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies in the first quarter worth $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

NYSE:UBER opened at $92.11 on Thursday. The firm has a market capitalization of $192.09 billion, a price-to-earnings ratio of 15.69 and a beta of 1.48. 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 $95.33 and a 200-day simple moving average of $88.98. 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 posted its quarterly earnings data 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 period last year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UBER. Barclays reaffirmed an “overweight” rating and set a $110.00 price target (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Piper Sandler upped their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada upped their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, UBS Group upped their price target on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.70.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 over the last three months. Corporate insiders own 3.84% of the company’s stock.

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.