City Holding Co. Grows Stake in Uber Technologies, Inc. $UBER

Key Points

• City Holding Co. increased its stake in Uber Technologies by 10.6%, now holding 53,493 shares valued at approximately $4.99 million after acquiring an additional 5,133 shares in Q2.
• Analysts have raised target prices for Uber, with Roth Capital setting a new target at $110.00 and others adjusting theirs to between $105.00 and $117.00, indicating a general bullish outlook.
• Recently, CEO Dara Khosrowshahi sold 300,000 shares worth about $28.61 million, reducing his ownership by approximately 20.94%.

City Holding Co. raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,493 shares of the ride-sharing company's stock after purchasing an additional 5,133 shares during the period. City Holding Co.'s holdings in Uber Technologies were worth $4,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the 2nd quarter worth about $28,000. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the first quarter valued at approximately $27,000. Kozak & Associates Inc. raised its holdings in shares of 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 buying an additional 223 shares during the period. Vision Financial Markets LLC purchased a new position in Uber Technologies during the 1st quarter valued at $27,000. Finally, GPS Wealth Strategies Group LLC grew its position 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 acquiring an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

UBER has been the topic of several recent analyst reports. Roth Capital raised their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Raymond James Financial increased their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC boosted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $103.30.

Uber Technologies Trading Up 0.8%

UBER stock opened at $98.37 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company's 50-day simple moving average is $93.29 and its 200-day simple moving average is $86.24. The firm has a market cap of $205.14 billion, a P/E ratio of 16.76 and a beta of 1.43.

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, beating analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business's revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies 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 sale, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The shares were 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 directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,571 shares of company stock worth $58,920,741. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.