Griffin Asset Management Inc. Acquires 3,575 Shares of Uber Technologies, Inc. $UBER

Key Points

• Griffin Asset Management Inc. increased its holdings in Uber Technologies, acquiring an additional 3,575 shares, bringing its total to 52,817 shares valued at approximately $4.93 million.
• Uber Technologies reported a 26.68% net margin with revenue of $12.65 billion for the last quarter, surpassing analyst estimates.
• Insider activities included CEO Dara Khosrowshahi selling 150,000 shares valued at over $15 million, reflecting a 13.24% decrease in his ownership.

Griffin Asset Management Inc. increased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,817 shares of the ride-sharing company's stock after buying an additional 3,575 shares during the period. Griffin Asset Management Inc.'s holdings in Uber Technologies were worth $4,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of UBER. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the first quarter worth $27,000. West Oak Capital LLC acquired a new position in shares of Uber Technologies during the second quarter worth $28,000. GPS Wealth Strategies Group LLC increased its position in shares of Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 339 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Uber Technologies during the second quarter worth $30,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

NYSE:UBER opened at $93.52 on Monday. 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 firm has a market cap of $195.03 billion, a price-to-earnings ratio of 15.93 and a beta of 1.48. The firm's fifty day moving average is $94.86 and its two-hundred day moving average is $88.00.

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, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The firm's revenue was up 18.2% on a year-over-year basis. Research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,821 shares of company stock valued at $58,659,491 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UBER shares. Piper Sandler upped their price target on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wedbush reduced their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley reissued 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $104.03.

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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