AdvisorNet Financial Inc Boosts Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• AdvisorNet Financial Inc increased its holdings in Uber Technologies by 21.1%, now owning 14,442 shares valued at approximately $1.35 million.
• Insider transactions revealed significant stock sales, including CEO Dara Khosrowshahi selling 300,000 shares for about $28.6 million, indicating a 20.94% decrease in his ownership.
• Despite recent sales by insiders, analysts maintain a consensus rating of Moderate Buy with a target price of $103.06, amid positive earnings results showing a quarterly revenue increase of 18.2% year-over-year.

AdvisorNet Financial Inc grew its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,442 shares of the ride-sharing company's stock after acquiring an additional 2,520 shares during the period. AdvisorNet Financial Inc's holdings in Uber Technologies were worth $1,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Uber Technologies in the first quarter worth approximately $27,000. GPS Wealth Strategies Group LLC boosted its holdings in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its holdings in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 306 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider directly owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies 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 transaction, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,571 shares of company stock worth $33,810,741 in the last 90 days. Company insiders own 3.70% of the company's stock.

Uber Technologies Stock Performance

Uber Technologies stock opened at $99.48 on Tuesday. The company's 50-day moving average price is $92.74 and its 200-day moving average price is $85.61. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $207.47 billion, a PE ratio of 16.95 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results 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 net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the firm posted $0.47 EPS. The business's quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UBER has been the topic of several research reports. Wedbush dropped their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Roth Capital raised their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Stifel Nicolaus raised their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. One investment analyst has 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

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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