Dumont & Blake Investment Advisors LLC Takes $827,000 Position in Uber Technologies, Inc. $UBER

Key Points

• Dumont & Blake Investment Advisors LLC has established a new position in Uber Technologies, Inc. by acquiring 8,860 shares worth approximately $827,000.
• Various institutional investors, such as West Oak Capital LLC and Trust Co. of Toledo, have also made recent investments in Uber, contributing to a total of 80.24% of the stock being owned by institutional investors.
• Analysts have exhibited strong positive sentiment towards Uber, with Guggenheim upgrading the stock to a "strong-buy" rating and multiple price target increases leading to an average target price of $105.68.

Dumont & Blake Investment Advisors LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,860 shares of the ride-sharing company's stock, valued at approximately $827,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. West Oak Capital LLC acquired a new position in shares of Uber Technologies in the second quarter worth about $28,000. Trust Co. of Toledo NA OH acquired a new position in shares of Uber Technologies in the second quarter worth about $30,000. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies in the first quarter worth about $27,000. Truvestments Capital LLC boosted its holdings in shares of Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after buying an additional 339 shares during the period. Finally, REAP Financial Group LLC boosted its holdings in shares of Uber Technologies by 158.2% in the second quarter. REAP Financial Group LLC now owns 408 shares of the ride-sharing company's stock worth $38,000 after buying an additional 250 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on UBER shares. Guggenheim upgraded shares of Uber Technologies to a "strong-buy" rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. KeyCorp raised their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Barclays restated an "overweight" rating and set a $110.00 price target (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Piper Sandler raised their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.68.

Uber Technologies Stock Performance

UBER stock opened at $92.29 on Friday. 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 stock has a market cap of $192.47 billion, a P/E ratio of 15.72 and a beta of 1.48. The firm has a 50 day simple moving average of $95.22 and a 200 day simple moving average of $88.60. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 86,531 shares of the company's stock, valued at approximately $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 the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,821 shares of company stock valued at $58,659,491. 3.84% of the stock is currently owned by company insiders.

About Uber Technologies

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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