1248 Management LLC Trims Position in Uber Technologies, Inc. $UBER

Key Points

• 1248 Management LLC has reduced its stake in Uber Technologies by 20.5%, now holding 71,955 shares valued at approximately $5.24 million.
• Insider sales have occurred recently, with Jill Hazelbaker and Tony West selling shares worth over $3 million combined, decreasing their ownership stakes in the company.
• Analysts have raised their target prices for Uber Technologies, with upgrades from several firms, indicating a consensus rating of "Moderate Buy" and an average price target of $102.82.

1248 Management LLC decreased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,955 shares of the ride-sharing company's stock after selling 18,569 shares during the period. Uber Technologies accounts for about 2.9% of 1248 Management LLC's holdings, making the stock its 10th largest holding. 1248 Management LLC's holdings in Uber Technologies were worth $5,243,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UBER. Navalign LLC increased its position in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after acquiring an additional 126 shares in the last quarter. Grove Bank & Trust lifted its position in Uber Technologies by 0.9% during the first 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 lifted its position in Uber Technologies by 1.3% during the first 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. CBIZ Investment Advisory Services LLC grew its position in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after buying an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC grew its position in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after buying an additional 145 shares during the period. 80.24% of the stock is owned by institutional investors.

Uber Technologies Trading Down 2.3%

Shares of UBER stock opened at $93.80 on Monday. The company has a 50 day moving average price of $92.21 and a 200 day moving average price of $83.63. The stock has a market capitalization of $195.61 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last posted 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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the firm earned $0.47 EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the transaction, the insider directly owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on UBER. Susquehanna raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised their price objective 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 upped 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. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, KeyCorp boosted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.82.

About Uber Technologies

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.

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