CHICAGO TRUST Co NA Trims Stake in Uber Technologies, Inc. $UBER

Key Points

• CHICAGO TRUST Co NA has reduced its holdings in Uber Technologies by 26.9% during the second quarter, now owning 11,445 shares valued at approximately $1,068,000.
• Uber's insider transactions included SVP Nikki Krishnamurthy selling 11,571 shares and CEO Dara Khosrowshahi selling 300,000 shares, marking ownership decreases of 2.70% and 20.94% respectively.
• Analysts have raised their target prices for Uber, with recent reports from various firms setting targets between $110.00 and $127.00, reflecting increased confidence in the company's growth prospects.

CHICAGO TRUST Co NA reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 26.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,445 shares of the ride-sharing company's stock after selling 4,215 shares during the period. CHICAGO TRUST Co NA's holdings in Uber Technologies were worth $1,068,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kozak & Associates Inc. grew its position 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 acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new position in Uber Technologies in the first quarter worth $27,000. Vision Financial Markets LLC purchased a new position in Uber Technologies in the first quarter worth $27,000. GPS Wealth Strategies Group LLC grew its position 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 acquiring an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co grew its position 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 acquiring an additional 306 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were 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 $108,010,721.28. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 354,571 shares of company stock valued at $33,810,741. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on UBER shares. BMO Capital Markets upped their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Barclays reissued an "overweight" rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Finally, Sanford C. Bernstein boosted their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $99.48 on Tuesday. 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. The company's 50-day moving average is $92.74 and its 200 day moving average is $85.61. The stock has a market capitalization of $207.47 billion, a P/E ratio of 16.95 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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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