HB Wealth Management LLC Reduces Stake in Uber Technologies, Inc. $UBER

Key Points

• HB Wealth Management LLC reduced its stake in Uber Technologies by 11.7%, selling 19,618 shares in the second quarter, leaving it with 147,503 shares valued at approximately $13.76 million.
• Multiple institutional investors, including Kozak & Associates Inc. and GPS Wealth Strategies Group LLC, increased their positions in Uber, highlighting continuing confidence in the company's prospects.
• Analysts have raised their price targets for shares of Uber Technologies, with Royal Bank of Canada setting a new target of $100, suggesting a broader expectation of growth for the company despite one downgrade to a "hold" rating.

HB Wealth Management LLC lowered its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 11.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,503 shares of the ride-sharing company's stock after selling 19,618 shares during the period. HB Wealth Management LLC's holdings in Uber Technologies were worth $13,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in Uber Technologies in the first quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in Uber Technologies in the first quarter worth about $27,000. West Oak Capital LLC bought a new stake in Uber Technologies in the second quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC lifted 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 worth $29,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Susquehanna boosted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Finally, Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.30.

Uber Technologies Stock Up 1.1%

Uber Technologies stock opened at $99.52 on Tuesday. The business has a fifty day moving average of $93.46 and a two-hundred day moving average of $86.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $207.53 billion, a P/E ratio of 16.95 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted 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 company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies's revenue 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, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock valued at $58,920,741 over the last 90 days. Insiders own 3.70% of the company's stock.

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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