Connective Portfolio Management LLC Decreases Stake in Uber Technologies, Inc. $UBER

Key Points

• Connective Portfolio Management LLC has reduced its stake in Uber Technologies, Inc. by 41.8%, currently holding 18,035 shares worth approximately $1.67 million.
• In the latest earnings results, Uber reported $12.65 billion in revenue for the quarter, exceeding analysts' expectations and achieving an 18.2% year-over-year growth.
• Analysts have a consensus price target of $103.06 for Uber, with a mix of ratings including one Strong Buy, twenty-nine Buy, and ten Hold ratings.

Connective Portfolio Management LLC reduced its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 41.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,035 shares of the ride-sharing company's stock after selling 12,965 shares during the period. Uber Technologies makes up 3.6% of Connective Portfolio Management LLC's holdings, making the stock its 12th biggest position. Connective Portfolio Management LLC's holdings in Uber Technologies were worth $1,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of UBER. Brighton Jones LLC lifted its stake in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of 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 worth $939,000 after buying an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Uber Technologies in the fourth quarter worth about $395,000. Bison Wealth LLC lifted its stake in shares of Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock worth $229,000 after buying an additional 641 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Uber Technologies by 52.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 76,618 shares of the ride-sharing company's stock worth $4,622,000 after buying an additional 26,197 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

Shares of UBER opened at $98.79 on Tuesday. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $98.86. The stock has a market cap of $206.02 billion, a PE ratio of 16.83, a P/E/G ratio of 1.10 and a beta of 1.43. The firm has a 50-day simple moving average of $92.66 and a two-hundred day simple moving average of $84.87. 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 announced its quarterly 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the business earned $0.47 earnings per share. The business's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

UBER has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Canaccord Genuity Group restated a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, UBS Group raised their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction that occurred 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 owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,696 shares of company stock valued at $4,632,774 in the last ninety days. Insiders own 3.70% of the company's stock.

Uber Technologies Company 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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