Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 2,698 Shares of Uber Technologies, Inc. $UBER

Key Points

• Empirical Wealth Management increased its stake in Uber Technologies by 12.5%, acquiring an additional 2,698 shares, bringing its total holdings to 24,266 shares valued at approximately $2.26 million.
• CEO Dara Khosrowshahi sold 300,000 shares of Uber stock worth about $28.61 million, representing a 20.94% decrease in his position.
• Analysts have a consensus price target of $104.03 for Uber Technologies, with the stock receiving various ratings, including "overweight" and "buy" from multiple firms.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,266 shares of the ride-sharing company's stock after acquiring an additional 2,698 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Uber Technologies were worth $2,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Northern Trust Corp boosted its stake in shares of Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after acquiring an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after acquiring an additional 394,157 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 604,571 shares of company stock worth $58,920,741. Company insiders own 3.84% of the company's stock.

Uber Technologies Price Performance

Uber Technologies stock opened at $96.53 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. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The stock has a market capitalization of $201.30 billion, a P/E ratio of 16.44 and a beta of 1.48. The stock has a fifty day moving average of $93.93 and a 200-day moving average of $87.04.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 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 company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Uber Technologies's revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UBER. Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. JPMorgan Chase & Co. boosted their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wells Fargo & Company reduced their price target on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday. Mizuho began coverage on Uber Technologies in a research note on Monday. They issued an "outperform" rating and a $130.00 price target for the company. Finally, Bank of America boosted their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Company 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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