Beaumont Asset Management L.L.C. Sells 4,590 Shares of Uber Technologies, Inc. $UBER

Beaumont Asset Management L.L.C. lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 31.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,954 shares of the ride-sharing company's stock after selling 4,590 shares during the quarter. Beaumont Asset Management L.L.C.'s holdings in Uber Technologies were worth $929,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. West Oak Capital LLC bought a new position in Uber Technologies during the second quarter valued at about $28,000. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter valued at about $27,000. Kozak & Associates Inc. lifted its holdings in Uber Technologies by 155.9% during the first 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 during the last quarter. Vision Financial Markets LLC bought a new position in Uber Technologies during the first quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC boosted its position in Uber Technologies by 305.1% during 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 period. Institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UBER shares. Barclays reiterated an "overweight" rating and set a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Sanford C. Bernstein increased their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company cut their target price on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research report on Friday, October 3rd. Finally, Piper Sandler increased their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Trading Up 1.6%

Shares of Uber Technologies stock opened at $99.32 on Thursday. The company's 50-day moving average price is $94.57 and its 200-day moving average price is $87.55. The company has a market cap of $207.12 billion, a price-to-earnings ratio of 16.92 and a beta of 1.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

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

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the firm's 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 over the last three months. Corporate insiders own 3.84% of the company's stock.

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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