Industrial Alliance Investment Management Inc. Cuts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Industrial Alliance Investment Management Inc. reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 86.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 690 shares of the ride-sharing company’s stock after selling 4,480 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Uber Technologies were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its stake in Uber Technologies by 2.5% in the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after buying an additional 24,059 shares in the last quarter. Brookstone Capital Management grew its position in shares of Uber Technologies by 19.0% in the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock valued at $11,082,000 after purchasing an additional 25,814 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Uber Technologies by 26.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 41,254 shares of the ride-sharing company’s stock valued at $2,998,000 after purchasing an additional 8,614 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Uber Technologies by 70.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock worth $959,000 after buying an additional 6,426 shares in the last quarter. Finally, Meyer Handelman Co. purchased a new stake in Uber Technologies in the 1st quarter worth approximately $1,170,000. 80.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tony West sold 28,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the sale, the insider now owns 96,945 shares in the company, valued at approximately $6,851,103.15. The disclosure for this sale can be found here. Insiders sold a total of 617,234 shares of company stock valued at $44,017,734 over the last three months. Corporate insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on UBER. Truist Financial upped their target price on Uber Technologies from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Uber Technologies from $91.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Melius started coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price on the stock. DA Davidson boosted their price target on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group lowered their price objective on shares of Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Uber Technologies Trading Up 1.2 %

Shares of Uber Technologies stock traded up $0.89 during midday trading on Friday, reaching $73.13. 12,350,368 shares of the company’s stock traded hands, compared to its average volume of 18,565,869. The stock has a 50 day moving average of $69.50 and a 200-day moving average of $71.46. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The company has a market cap of $153.64 billion, a PE ratio of 117.95, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. As a group, equities analysts expect that Uber Technologies, Inc. will post 1.04 EPS for the current fiscal year.

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.