Naviter Wealth LLC Cuts Position in Uber Technologies, Inc. $UBER

Naviter Wealth LLC reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,908 shares of the ride-sharing company’s stock after selling 640 shares during the quarter. Naviter Wealth LLC’s holdings in Uber Technologies were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in UBER. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 3.2% in the 1st 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 in the last quarter. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies during the first quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its stake in 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 valued at $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Northern Trust Corp boosted its stake in 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 valued at $1,401,873,000 after acquiring an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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. Institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on UBER shares. Mizuho started coverage on Uber Technologies in a report on Monday, September 29th. They set an “outperform” rating and a $130.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. KeyCorp raised their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Bank of America upped their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered their target price on shares of Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $104.03.

Uber Technologies Price Performance

UBER stock opened at $94.14 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $196.32 billion, a price-to-earnings ratio of 16.04 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 firm has a 50 day moving average of $94.98 and a 200-day moving average of $88.15.

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

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares in the company, valued at $108,010,721.28. This trade represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’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 sale, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 601,821 shares of company stock worth $58,659,491. 3.70% of the stock is owned by insiders.

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.