Carmel Capital Partners LLC Has $1.65 Million Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Carmel Capital Partners LLC reduced its stake in Uber Technologies by 34.4%, now holding 17,709 shares valued at approximately $1.65 million.
• Institutional investors own 80.24% of Uber's stock, with other investments seeing significant increases, such as Nova Wealth Management, which raised its holdings by 41.0%.
• Analysts maintain a consensus rating of "Moderate Buy" for Uber, with a target price of $105.68, following a recent earnings report exceeding expectations.

Carmel Capital Partners LLC decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 34.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,709 shares of the ride-sharing company's stock after selling 9,280 shares during the quarter. Carmel Capital Partners LLC's holdings in Uber Technologies were worth $1,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Nova Wealth Management Inc. increased its position in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Atticus Wealth Management LLC increased its position in shares of Uber Technologies by 39.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 127 shares during the last quarter. Forum Financial Management LP increased its position in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Rogco LP increased its position in shares of Uber Technologies by 1.6% during the 2nd quarter. Rogco LP now owns 8,925 shares of the ride-sharing company's stock worth $833,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Ratings Changes

UBER has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Uber Technologies in a research report on Tuesday. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Wells Fargo & Company reduced their target price on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Susquehanna lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $105.68.

Uber Technologies Stock Performance

UBER opened at $92.29 on Friday. The business has a fifty day simple moving average of $95.22 and a 200 day simple moving average of $88.50. The company has a market capitalization of $192.47 billion, a PE ratio of 15.72 and a beta of 1.48. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value 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. The trade was a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 150,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares of the company's stock, valued at $98,726,021.12. This trade represents a 13.24% 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 worth $58,659,491 over the last three months. 3.84% of the stock is currently owned by corporate insiders.

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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