Sterling Investment Counsel LLC Decreases Position in Uber Technologies, Inc. $UBER

Sterling Investment Counsel LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 50.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,328 shares of the ride-sharing company’s stock after selling 8,467 shares during the period. Sterling Investment Counsel LLC’s holdings in Uber Technologies were worth $777,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. increased its holdings in shares of Uber Technologies by 41.0% in the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 125 shares during the period. Atticus Wealth Management LLC increased its holdings in shares of Uber Technologies by 39.8% in the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 127 shares during the period. Grove Bank & Trust increased its holdings in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after purchasing an additional 133 shares during the period. Forum Financial Management LP increased its holdings in shares of Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after purchasing an additional 136 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its holdings in shares of Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 0.1%

Uber Technologies stock opened at $96.51 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $201.27 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock’s fifty day moving average is $93.83 and its two-hundred day moving average is $86.87.

Uber Technologies (NYSE:UBER) last issued 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 for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. Analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 604,571 shares of company stock valued at $58,920,741. Insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Bank of America boosted their target price on Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Mizuho initiated coverage on Uber Technologies in a report on Monday. They issued an “outperform” rating and a $130.00 target price on the stock. Wedbush decreased their price target on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Finally, Roth Capital lifted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.09.

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.