Eastern Bank Lowers Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Eastern Bank has reduced its holdings in Uber Technologies by 20.2%, selling 4,241 shares, bringing its total to 16,765 shares valued at approximately $1.56 million.
• A significant number of hedge funds have adjusted their positions in Uber, with some like Brighton Jones LLC increasing their holdings by 3.4% recently.
• Analysts have mixed ratings on Uber Technologies, with a consensus average rating of "Moderate Buy" and a price target of $104.03, reflecting various adjustments by firms like Cantor Fitzgerald and Mizuho.

Eastern Bank cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,765 shares of the ride-sharing company's stock after selling 4,241 shares during the period. Eastern Bank's holdings in Uber Technologies were worth $1,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of UBER. Brighton Jones LLC grew its position in shares of Uber Technologies by 3.4% during 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 last quarter. Revolve Wealth Partners LLC grew its position in shares of Uber Technologies by 65.0% during 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 last quarter. Bison Wealth LLC grew its position in shares of Uber Technologies by 20.3% during 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 last quarter. GAMMA Investing LLC grew its position in shares of Uber Technologies by 319.6% during 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 last quarter. Finally, Focus Financial Network Inc. purchased a new position in shares of Uber Technologies during the first quarter worth approximately $210,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on UBER shares. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Mizuho started coverage on shares of Uber Technologies in a research report on Monday, September 29th. They issued an "outperform" rating and a $130.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Wedbush lowered their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, KeyCorp lifted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Price Performance

Uber Technologies stock opened at $93.52 on Friday. Uber Technologies, Inc. has a one year low of $59.33 and a one 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 business has a fifty day moving average of $94.86 and a two-hundred day moving average of $87.91. The company has a market cap of $195.03 billion, a P/E ratio of 15.93 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating 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 company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter last year, the company earned $0.47 earnings per share. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dara Khosrowshahi sold 150,000 shares of Uber Technologies stock in a transaction 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 owned 982,544 shares of the company's stock, valued at $98,726,021.12. The trade was a 13.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock valued at $58,659,491 in the last quarter. Corporate insiders own 3.84% 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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