Deltec Asset Management LLC Sells 30,358 Shares of Uber Technologies, Inc. $UBER

Key Points

• Deltec Asset Management LLC reduced its stake in Uber Technologies by 12.6%, selling 30,358 shares during the 2nd quarter, now holding a total of 210,158 shares worth approximately $19.6 million.
• Insider selling activity involved SVP Nikki Krishnamurthy and CEO Dara Khosrowshahi, who sold 11,571 and 150,000 shares respectively, leading to a decrease in their holdings by 2.70% and 13.24%.
• Uber Technologies reported a revenue increase of 18.2% year-over-year with earnings surpassing analysts' expectations, indicating strong financial performance in the latest quarter.

Deltec Asset Management LLC lowered its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,158 shares of the ride-sharing company's stock after selling 30,358 shares during the quarter. Uber Technologies comprises approximately 3.5% of Deltec Asset Management LLC's investment portfolio, making the stock its 8th biggest holding. Deltec Asset Management LLC's holdings in Uber Technologies were worth $19,608,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kozak & Associates Inc. increased its stake 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 valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $27,000. West Oak Capital LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's 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 of the company's stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 982,544 shares of the company's stock, valued at $98,726,021.12. This represents a 13.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 604,571 shares of company stock valued at $58,920,741 in the last ninety days. 3.70% of the stock is owned by company insiders.

Uber Technologies Trading Down 1.6%

Shares of NYSE:UBER opened at $97.94 on Wednesday. The stock has a market capitalization of $204.25 billion, a price-to-earnings ratio of 16.68 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 company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average price of $93.58 and a 200 day moving average price of $86.64.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UBER. Barclays restated an "overweight" rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Mizuho assumed coverage on shares of Uber Technologies in a research note on Monday. They set an "outperform" rating and a $130.00 price objective on the stock. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.09.

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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