Edge Wealth Management LLC Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

Edge Wealth Management LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,170 shares of the ride-sharing company’s stock after selling 2,000 shares during the period. Edge Wealth Management LLC’s holdings in Uber Technologies were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. Vanguard Group Inc. lifted its position in Uber Technologies by 34.8% during the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after acquiring an additional 43,275,830 shares during the period. Norges Bank acquired a new stake in shares of Uber Technologies during the fourth quarter worth $1,415,778,000. Edgewood Management LLC acquired a new position in Uber Technologies in the 4th quarter valued at $783,401,000. Capital Research Global Investors raised its position in Uber Technologies by 28.4% during the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock worth $2,273,669,000 after buying an additional 8,164,816 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Uber Technologies by 41.0% in the fourth quarter. Northern Trust Corp now owns 17,419,446 shares of the ride-sharing company’s stock valued at $1,072,515,000 after buying an additional 5,063,412 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 18,750 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock valued at $42,258,297 in the last quarter. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UBER. UBS Group dropped their price objective on Uber Technologies from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Uber Technologies in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, May 8th. Jefferies Financial Group dropped their target price on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.34.

Uber Technologies Stock Performance

Shares of UBER stock traded up $2.18 during trading hours on Friday, reaching $72.52. The stock had a trading volume of 1,586,693 shares, compared to its average volume of 19,305,355. The firm has a market capitalization of $151.53 billion, a PE ratio of 113.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The firm has a 50-day simple moving average of $67.83 and a 200-day simple moving average of $69.66. Uber Technologies, Inc. has a twelve month low of $40.09 and a twelve month high of $82.14. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 0.85 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.