Banco Santander S.A. Cuts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Banco Santander S.A. reduced its holdings in Uber Technologies, Inc. by 36.1%, now owning 345,529 shares after selling 195,370 shares, with holdings valued at approximately $25.2 million.
• Insider Jill Hazelbaker sold 34,884 shares at an average price of $86.03, representing a 25.46% decrease in ownership.
• Analysts have set new price targets for Uber, with several firms raising them, including Wells Fargo increasing its target from $100 to $120, indicating a strong outlook for the stock.

Banco Santander S.A. trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 36.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 345,529 shares of the ride-sharing company's stock after selling 195,370 shares during the period. Banco Santander S.A.'s holdings in Uber Technologies were worth $25,175,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Transce3nd LLC purchased a new position in Uber Technologies in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies in the 4th quarter valued at approximately $27,000. Kozak & Associates Inc. increased its stake in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new position in Uber Technologies in the 1st quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC increased its stake in 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 valued at $29,000 after purchasing an additional 299 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,496,071 in the last quarter. 3.84% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on UBER. DA Davidson raised their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their price objective on Uber Technologies from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Loop Capital reaffirmed 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. Stifel Nicolaus increased their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday. Finally, TD Cowen lowered their target price on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.71.

Uber Technologies Price Performance

UBER stock opened at $86.98 on Friday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71. The stock's fifty day simple moving average is $89.12 and its 200-day simple moving average is $80.29. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $181.89 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Uber Technologies 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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