Draper Asset Management LLC Sells 18,021 Shares of Uber Technologies, Inc. $UBER

Key Points

• Draper Asset Management LLC reduced its stake in Uber Technologies by 20.0%, selling 18,021 shares, and now owns 71,897 shares, making it the 7th largest holding within their portfolio.
• Uber Technologies reported earnings of $0.63 per share for the latest quarter, exceeding expectations, with revenue of approximately $12.65 billion, marking an 18.2% increase year-over-year.
• Institutional investors now hold 80.24% of Uber's stock, indicating strong interest and support among large financial entities for the company.

Draper Asset Management LLC reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,897 shares of the ride-sharing company's stock after selling 18,021 shares during the quarter. Uber Technologies comprises 4.3% of Draper Asset Management LLC's holdings, making the stock its 7th largest holding. Draper Asset Management LLC's holdings in Uber Technologies were worth $6,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in 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 acquiring an additional 2,474 shares during the period. 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 acquiring an additional 6,129 shares during the period. 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 acquiring an additional 641 shares during the period. GAMMA Investing LLC lifted its stake in shares of Uber Technologies by 319.6% in the first quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company's stock worth $1,658,000 after acquiring an additional 17,330 shares during the period. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of Uber Technologies in the first quarter worth approximately $214,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Trading Up 2.6%

NYSE UBER opened at $94.57 on Friday. The business has a 50 day moving average price of $95.40 and a 200-day moving average price of $89.18. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a market cap of $197.21 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48. 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 (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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the business's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $93.00, for a total value of $290,625.00. Following the transaction, the insider owned 172,846 shares of the company's stock, valued at approximately $16,074,678. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 604,946 shares of company stock valued at $58,950,116 in the last three months. Insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on UBER shares. Wedbush cut their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Barclays reiterated an "overweight" rating and issued a $110.00 target price (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Guggenheim upgraded Uber Technologies to a "strong-buy" rating in a report on Wednesday, October 15th. Finally, Mizuho started coverage on Uber Technologies in a report on Monday, September 29th. They issued an "outperform" rating and a $130.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $105.70.

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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