Cove Private Wealth LLC Purchases 11,983 Shares of Uber Technologies, Inc. $UBER

Key Points

• Cove Private Wealth LLC increased its stake in Uber Technologies by 378.7%, acquiring an additional 11,983 shares, bringing its total holdings to 15,147 shares valued at $1.41 million.
• Insider trades reveal significant selling activity, with CEO Dara Khosrowshahi selling 150,000 shares for approximately $15.07 million, representing a 13.24% decrease in his ownership.
• Institutional investors own 80.24% of Uber's stock, indicating strong institutional interest, while analysts have varied ratings, with a consensus target price of $103.30 for the shares.

Cove Private Wealth LLC boosted its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 378.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,147 shares of the ride-sharing company's stock after buying an additional 11,983 shares during the quarter. Cove Private Wealth LLC's holdings in Uber Technologies were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies in the first quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC increased its position in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after buying an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Finally, Boston Partners grew its stake in shares of Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after acquiring an additional 2,749,456 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares in the company, valued at $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock worth $58,920,741 in the last three months. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Up 0.8%

Shares of UBER opened at $98.37 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $205.14 billion, a PE ratio of 16.76 and a beta of 1.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The stock has a 50 day simple moving average of $93.29 and a 200-day simple moving average of $86.14.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UBER has been the subject of a number of research reports. Wedbush reduced their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Susquehanna increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. KeyCorp boosted their price target on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and an average target price of $103.30.

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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