Uber Technologies, Inc. $UBER Stake Lessened by Blue Trust Inc.

Blue Trust Inc. lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 73.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,623 shares of the ride-sharing company’s stock after selling 17,898 shares during the quarter. Blue Trust Inc.’s holdings in Uber Technologies were worth $649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covea Finance raised its position in Uber Technologies by 9.3% in the third quarter. Covea Finance now owns 60,100 shares of the ride-sharing company’s stock worth $5,888,000 after acquiring an additional 5,100 shares in the last quarter. Randall & Associates Wealth Management purchased a new stake in Uber Technologies in the 3rd quarter worth about $216,000. Capital Advisors Wealth Management LLC acquired a new stake in shares of Uber Technologies during the third quarter worth approximately $208,000. Quad Cities Investment Group LLC boosted its stake in shares of Uber Technologies by 7.1% during the 3rd quarter. Quad Cities Investment Group LLC now owns 14,897 shares of the ride-sharing company’s stock valued at $1,459,000 after buying an additional 994 shares during the period. Finally, Cooper Investors PTY Ltd. acquired a new stake in Uber Technologies during the third quarter valued at $9,032,000. Institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tony West sold 3,125 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total value of $251,125.00. Following the sale, the insider directly owned 175,423 shares of the company’s stock, valued at $14,096,992.28. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,875 shares of company stock worth $1,348,818 over the last quarter. Company insiders own 3.70% of the company’s stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $81.23 on Monday. The firm has a market cap of $168.78 billion, a P/E ratio of 10.44 and a beta of 1.19. The firm’s 50-day simple moving average is $88.82 and its 200-day simple moving average is $91.51. Uber Technologies, Inc. has a twelve month low of $60.02 and a twelve month high of $101.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UBER. Guggenheim reduced their target price on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Erste Group Bank downgraded Uber Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings restated a “buy (b)” rating on shares of Uber Technologies in a research report on Monday, December 22nd. DA Davidson boosted their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, UBS Group set a $122.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.43.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.