Envestnet Portfolio Solutions Inc. Sells 6,697 Shares of Uber Technologies, Inc. $UBER

Key Points

• Envestnet Portfolio Solutions Inc. reduced its position in Uber Technologies by 3.3%, selling 6,697 shares and now holding 199,337 shares valued at approximately $18.6 million.
• Uber reported a net margin of 26.68% for its latest quarter, with revenue increasing 18.2% year-over-year, surpassing both earnings and revenue expectations set by analysts.
• Analysts have mixed views on Uber, with Royal Bank Of Canada raising their price target to $100 while Wedbush lowered theirs to $84, reflecting differing outlooks on the company's performance.

Envestnet Portfolio Solutions Inc. trimmed its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,337 shares of the ride-sharing company's stock after selling 6,697 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Uber Technologies were worth $18,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UBER. Delaney Dennis R raised its position in Uber Technologies by 28.8% in the second quarter. Delaney Dennis R now owns 14,550 shares of the ride-sharing company's stock worth $1,358,000 after acquiring an additional 3,250 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Uber Technologies by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 180,753 shares of the ride-sharing company's stock worth $16,864,000 after purchasing an additional 1,300 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in Uber Technologies in the 2nd quarter worth $216,000. Vest Financial LLC raised its holdings in Uber Technologies by 39.3% in the 2nd quarter. Vest Financial LLC now owns 33,817 shares of the ride-sharing company's stock worth $3,155,000 after purchasing an additional 9,534 shares during the period. Finally, Lion Street Advisors LLC purchased a new position in Uber Technologies during the second quarter valued at $238,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 2.6%

Shares of UBER opened at $93.52 on Monday. The firm has a market cap of $195.03 billion, a P/E ratio of 15.93 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a 50 day simple moving average of $94.86 and a two-hundred day simple moving average of $88.00.

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 analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank Of Canada upped their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wedbush reduced their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Uber Technologies in a research note on Saturday, September 27th. Susquehanna lifted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Two equities research 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 company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 601,821 shares of company stock worth $58,659,491. Insiders own 3.70% 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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