Continental Advisors LLC Sells 17,000 Shares of Uber Technologies, Inc. $UBER

Key Points

• Continental Advisors LLC has reduced its stake in Uber Technologies by 13.6%, selling 17,000 shares, leaving it with 108,148 shares valued at $7,880,000.
• Several institutional investors have recently increased their holdings in Uber, with notable increases including a 306.0% increase from Perkins Coie Trust Co and a 305.1% boost from GPS Wealth Strategies Group LLC.
• Wall Street analysts are generally optimistic about Uber, with twenty-nine analysts giving it a "Buy" rating and an average target price of $103.06 for the stock.

Continental Advisors LLC lowered its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,148 shares of the ride-sharing company's stock after selling 17,000 shares during the quarter. Uber Technologies accounts for about 4.4% of Continental Advisors LLC's investment portfolio, making the stock its 4th largest position. Continental Advisors LLC's holdings in Uber Technologies were worth $7,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new stake in Uber Technologies in the 1st quarter valued at approximately $27,000. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its position in shares of 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 worth $29,000 after acquiring an additional 299 shares during the period. Finally, Perkins Coie Trust Co lifted its position in shares of Uber Technologies by 306.0% in the 1st 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 during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's 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 sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at $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. Insiders have sold 48,696 shares of company stock worth $4,632,774 over the last 90 days. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBER. Piper Sandler raised their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Bank of America raised their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC raised their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Price Performance

Uber Technologies stock opened at $94.17 on Tuesday. 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 has a market capitalization of $196.38 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The business has a 50 day simple moving average of $92.44 and a 200 day simple moving average of $84.16.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping 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%.Uber Technologies's revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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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