Armistice Capital LLC Decreases Holdings in Uber Technologies, Inc. $UBER

Key Points

• Armistice Capital LLC reduced its stake in Uber by 29.7%, selling 99,788 shares, bringing its total holdings to 235,747 shares valued at approximately $17.2 million.
• Uber reported a quarterly earnings of $0.63 per share, which exceeded analysts’ expectations, alongside revenue of $12.65 billion, a growth of 18.2% year-over-year.
• Insider transactions revealed notable stock sales, with CFO Prashanth Mahendra-Rajah selling 2,750 shares, representing an 11.12% decrease in his ownership.

Armistice Capital LLC cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 29.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 235,747 shares of the ride-sharing company's stock after selling 99,788 shares during the period. Armistice Capital LLC's holdings in Uber Technologies were worth $17,177,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UBER. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies during the 4th quarter valued at $27,000. Kozak & Associates Inc. raised its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies in the 1st quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies in the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Uber Technologies by 305.1% in the 1st 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 in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 2.3%

Shares of Uber Technologies stock opened at $93.80 on Friday. The firm has a market cap of $195.61 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.08 and a beta of 1.43. The business has a 50-day moving average price of $92.21 and a 200-day moving average price of $83.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Susquehanna upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company reduced their price objective on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Loop Capital restated a "buy" rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $102.82.

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.

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