Mengis Capital Management Inc. Reduces Position in Uber Technologies, Inc. $UBER

Mengis Capital Management Inc. cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 16.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,145 shares of the ride-sharing company’s stock after selling 5,300 shares during the period. Mengis Capital Management Inc.’s holdings in Uber Technologies were worth $2,439,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nova Wealth Management Inc. lifted its position in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 125 shares in the last quarter. Atticus Wealth Management LLC raised its stake in Uber Technologies by 39.8% during the 2nd 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 raised its stake in Uber Technologies by 0.9% during the 1st 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 raised its stake in Uber Technologies by 1.3% during the 1st 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 raised its stake in Uber Technologies by 42.1% during the 1st 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. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on UBER. Cantor Fitzgerald reissued an “overweight” rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Piper Sandler lifted their target price on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their target price on Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. BMO Capital Markets lifted their target price on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Susquehanna upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $104.03.

Uber Technologies Stock Performance

NYSE UBER opened at $96.06 on Friday. The company has a market cap of $200.32 billion, a P/E ratio of 16.36 and a beta of 1.48. 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 business’s 50 day moving average price is $94.73 and its 200-day moving average price is $87.69. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company’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 EPS. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 worth $58,659,491 over the last ninety days. Corporate insiders own 3.84% of the company’s stock.

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.