Uber Technologies, Inc. $UBER Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC decreased its stake in Uber Technologies, Inc. (NYSE:UBER) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,247 shares of the ride-sharing company’s stock after selling 2,130 shares during the period. Uber Technologies makes up 2.2% of 1858 Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. 1858 Wealth Management LLC’s holdings in Uber Technologies were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Apollon Wealth Management LLC lifted its stake in shares of Uber Technologies by 23.0% in the second quarter. Apollon Wealth Management LLC now owns 24,783 shares of the ride-sharing company’s stock valued at $2,312,000 after purchasing an additional 4,641 shares during the period. Hemington Wealth Management raised its position in Uber Technologies by 18.0% during the second quarter. Hemington Wealth Management now owns 2,293 shares of the ride-sharing company’s stock worth $213,000 after acquiring an additional 349 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Uber Technologies by 8.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 55,007 shares of the ride-sharing company’s stock worth $5,132,000 after acquiring an additional 4,237 shares during the last quarter. Fulcrum Capital LLC acquired a new position in Uber Technologies during the second quarter worth about $6,373,000. Finally, DSM Capital Partners LLC raised its position in Uber Technologies by 4.5% during the second quarter. DSM Capital Partners LLC now owns 2,625,476 shares of the ride-sharing company’s stock worth $244,957,000 after acquiring an additional 113,330 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,821 shares of company stock valued at $58,659,491 in the last quarter. Insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Cowen restated a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Wedbush cut their target price on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, KeyCorp lifted their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.03.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $93.52 on Friday. The company has a market cap of $195.03 billion, a PE ratio of 15.93 and a beta of 1.48. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. 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 company has a 50-day simple moving average of $94.86 and a 200-day simple moving average of $87.91.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Uber Technologies’s revenue was up 18.2% compared to the same quarter last year. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.