Wilmington Savings Fund Society FSB Trims Stock Position in Uber Technologies, Inc. $UBER

Wilmington Savings Fund Society FSB cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 69,977 shares of the ride-sharing company’s stock after selling 3,600 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Uber Technologies were worth $6,529,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in shares of Uber Technologies in the 2nd quarter worth about $96,000. Geneos Wealth Management Inc. raised its holdings in shares of Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock worth $7,483,000 after purchasing an additional 91,362 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Uber Technologies by 42.7% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock worth $70,822,000 after purchasing an additional 226,960 shares during the period. Kapstone Financial Advisors LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth about $415,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after purchasing an additional 6,129 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of research reports. Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. KeyCorp raised their target price on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Piper Sandler raised their target price on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Guggenheim began coverage on Uber Technologies in a report on Tuesday. They set a “buy” rating and a $140.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $105.06.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $94.21 on Wednesday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business has a 50 day moving average price of $95.07 and a two-hundred day moving average price of $88.19. 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 $196.47 billion, a PE ratio of 16.05 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the firm earned $0.47 EPS. Uber Technologies’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. This trade represents a 13.24% 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, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock worth $58,659,491 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

About Uber Technologies

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.