Cidel Asset Management Inc. Sells 87,604 Shares of Uber Technologies, Inc. $UBER

Key Points

• Cidel Asset Management Inc. sold 87,604 shares of Uber Technologies, reducing its stake by 32.2%, ending up with 184,115 shares valued at $17.18 million.
• Insider transactions include CEO Dara Khosrowshahi, who sold 300,000 shares for $28.61 million, representing a 20.94% decrease in his holdings.
• Analysts have increased their price targets for Uber, with projections now ranging from $100.00 to $113.00, reflecting a generally positive outlook on the stock.

Cidel Asset Management Inc. reduced its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 32.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 184,115 shares of the ride-sharing company's stock after selling 87,604 shares during the quarter. Cidel Asset Management Inc.'s holdings in Uber Technologies were worth $17,178,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of UBER. Brighton Jones LLC raised its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares during the period. Bison Wealth LLC grew its stake in Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after acquiring an additional 641 shares during the period. GAMMA Investing LLC boosted its position in shares of Uber Technologies by 319.6% during the first quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company's stock valued at $1,658,000 after buying an additional 17,330 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Uber Technologies by 44.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company's stock valued at $15,825,000 after buying an additional 66,783 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Down 0.2%

UBER opened at $92.29 on Friday. The business has a 50 day simple moving average of $95.22 and a two-hundred day simple moving average of $88.60. The firm has a market capitalization of $192.47 billion, a price-to-earnings ratio of 15.72 and a beta of 1.48. 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, Inc. has a one year low of $59.33 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business's revenue was up 18.2% compared to the same quarter last year. Analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value 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 represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the sale, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 601,821 shares of company stock worth $58,659,491. 3.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank Of Canada lifted their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Barclays restated an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets upped their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Three 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. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $105.68.

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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