Uber Technologies, Inc. $UBER Stock Position Trimmed by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC has decreased its position in Uber Technologies by 57.8%, selling 18,200 shares and now holding 13,300 shares valued at $1,241,000.
• Analysts have a positive outlook on Uber Technologies, with several raising their price targets, suggesting a potential upside for investors.
• Despite insider selling, Uber reported a revenue increase of 18.2% year-over-year, with earnings per share of $0.63 exceeding expectations.

Hedges Asset Management LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 57.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,300 shares of the ride-sharing company's stock after selling 18,200 shares during the period. Hedges Asset Management LLC's holdings in Uber Technologies were worth $1,241,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pershing Square Capital Management L.P. acquired a new position in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Pacer Advisors Inc. lifted its holdings in shares of Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Toyota Motor Corp purchased a new stake in shares of Uber Technologies in the fourth quarter valued at about $309,192,000. Finally, Boston Partners lifted its stake in shares of Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after buying an additional 2,749,456 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on UBER. Needham & Company LLC raised their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. UBS Group increased their price target on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Roth Capital increased their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,696 shares of company stock valued at $4,632,774. 3.70% of the stock is owned by insiders.

Uber Technologies Stock Up 1.3%

UBER traded up $1.22 during trading hours on Friday, reaching $95.90. 13,652,955 shares of the stock traded hands, compared to its average volume of 14,496,138. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $199.99 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.10 and a beta of 1.43. The firm's fifty day simple moving average is $92.62 and its two-hundred day simple moving average is $84.71.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the firm posted $0.47 EPS. The firm's revenue was up 18.2% compared to the same quarter last year. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share 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.