Cullinan Associates Inc. Grows Holdings in Uber Technologies, Inc. $UBER

Key Points

• Cullinan Associates Inc. increased its stake in Uber Technologies by 5.5%, bringing its total holdings to 113,469 shares valued at approximately $10.59 million.
• Uber's recent quarterly earnings reported a $0.63 EPS, exceeding analysts' expectations, alongside a revenue of $12.65 billion, which is an 18.2% increase year-over-year.
• Insider trading activity includes notable sales, with Jill Hazelbaker and Tony West selling a combined total of over 131,000 shares of Uber's stock in recent months.

Cullinan Associates Inc. grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,469 shares of the ride-sharing company's stock after buying an additional 5,950 shares during the quarter. Cullinan Associates Inc.'s holdings in Uber Technologies were worth $10,587,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Nova Wealth Management Inc. boosted its holdings in shares of Uber Technologies by 41.0% in the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Atticus Wealth Management LLC lifted its position in Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after buying an additional 127 shares during the last quarter. Grove Bank & Trust boosted its stake in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares in the last quarter. Forum Financial Management LP boosted its stake in Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after buying an additional 136 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Uber Technologies Trading Down 0.1%

UBER opened at $96.53 on Monday. 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 stock has a market cap of $201.30 billion, a PE ratio of 16.44 and a beta of 1.48. The business has a 50 day moving average of $93.93 and a 200-day moving average of $87.23.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on UBER shares. Royal Bank Of Canada lifted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Bank of America increased their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their price target on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a report on Friday. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, UBS Group upped their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten 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 $104.03.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock worth $58,659,491 over the last three months. Corporate insiders own 3.70% 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.

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