Abacus Planning Group Inc. Sells 337 Shares of Uber Technologies, Inc. $UBER

Abacus Planning Group Inc. lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 7.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,143 shares of the ride-sharing company’s stock after selling 337 shares during the period. Abacus Planning Group Inc.’s holdings in Uber Technologies were worth $387,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. West Oak Capital LLC bought a new stake in shares of Uber Technologies during the 2nd quarter worth about $28,000. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the first quarter valued at about $27,000. Kozak & Associates Inc. grew its position in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at about $27,000. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were 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 $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 604,571 shares of company stock valued at $58,920,741. 3.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

UBER has been the topic of several research analyst reports. UBS Group raised their price target on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Canaccord Genuity Group reiterated a “hold” rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Needham & Company LLC increased their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.09.

Uber Technologies Stock Down 0.1%

Shares of UBER opened at $96.51 on Friday. The stock has a market cap of $201.27 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a 50-day moving average price of $93.83 and a two-hundred day moving average price of $86.87.

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, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Equities analysts predict that Uber Technologies, Inc. will post 2.54 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.