Federated Hermes Inc. Sells 36,608 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Federated Hermes Inc. reduced its stake in Uber Technologies by 5.2%, selling 36,608 shares and owning 673,312 shares valued at $49.05 million after the 1st quarter.
• During the same period, several hedge funds such as Geneos Wealth Management and Meeder Advisory Services made significant changes to their holdings in Uber, with Geneos increasing its stake by 869.1%.
• Uber's stock saw a modest increase of 0.6% on opening, with analysts' ratings reflecting a consensus of a "Moderate Buy" and an average price target of $100.71.

Federated Hermes Inc. lowered its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 673,312 shares of the ride-sharing company's stock after selling 36,608 shares during the period. Federated Hermes Inc.'s holdings in Uber Technologies were worth $49,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UBER. Transce3nd LLC acquired a new stake in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at $27,000. Kozak & Associates Inc. increased its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies during the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

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 on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,384 shares of company stock worth $3,496,071. Insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

UBER has been the subject of a number of research reports. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Wall Street Zen raised Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Roth Capital upped their target price on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.71.

Uber Technologies Stock Down 0.9%

Uber Technologies stock traded down $0.77 during midday trading on Friday, hitting $86.98. 15,719,480 shares of the stock were exchanged, compared to its average volume of 16,246,386. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The business's 50-day moving average price is $89.14 and its 200-day moving average price is $80.14. The stock has a market capitalization of $181.89 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. Uber Technologies's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) earnings per share. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.