Allegiance Financial Group Advisory Services LLC Sells 1,808 Shares of Uber Technologies, Inc. $UBER

Allegiance Financial Group Advisory Services LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,230 shares of the ride-sharing company’s stock after selling 1,808 shares during the quarter. Uber Technologies comprises 0.8% of Allegiance Financial Group Advisory Services LLC’s holdings, making the stock its 21st largest position. Allegiance Financial Group Advisory Services LLC’s holdings in Uber Technologies were worth $2,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the first quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its stake in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Northern Trust Corp raised its stake in shares of Uber Technologies by 3.9% in the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after purchasing an additional 720,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after purchasing an additional 394,157 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction 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 transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock valued at $58,659,491 in the last three months. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $99.32 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day moving average price is $94.57 and its 200-day moving average price is $87.55. The firm has a market capitalization of $207.12 billion, a PE ratio of 16.92 and a beta of 1.48. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UBER. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. UBS Group lifted 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research report on Saturday, September 27th. Finally, BMO Capital Markets lifted their price target on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.03.

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.