Uber Technologies, Inc. $UBER Holdings Decreased 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 decreased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 57.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the period. GK Wealth Management LLC purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $234,000. Finally, Woodline Partners LP raised its stake in shares of Uber Technologies by 3,952.9% during the first quarter. Woodline Partners LP now owns 581,435 shares of the ride-sharing company's stock valued at $42,363,000 after purchasing an additional 567,089 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the sale, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 348,696 shares of company stock valued at $33,243,774. Company insiders own 3.70% of the company's stock.

Uber Technologies Stock Performance

Uber Technologies stock traded down $4.70 during mid-day trading on Wednesday, reaching $93.13. The company's stock had a trading volume of 26,870,785 shares, compared to its average volume of 21,404,297. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $99.70. The firm has a market cap of $194.22 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.13 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $92.67 and a 200-day moving average price of $84.96.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (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 during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UBER has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Loop Capital restated a "buy" rating and issued a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Susquehanna lifted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Barclays restated an "overweight" rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price target 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. One equities research analyst has 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. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

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.