High Note Wealth LLC Increases Stake in Uber Technologies, Inc. $UBER

Key Points

• High Note Wealth LLC significantly increased its stake in Uber Technologies, Inc. by 7,425.6% during the second quarter, now holding 39,434 shares valued at $3.68 million.
• Uber’s stock recently opened at $100.02, with a market cap of $208.58 billion, following positive quarterly earnings that exceeded analysts' expectations.
• Insider trading activity includes CEO Dara Khosrowshahi selling 150,000 shares for $15.07 million, reflecting a 13.24% decrease in his ownership position.

High Note Wealth LLC increased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7,425.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,434 shares of the ride-sharing company's stock after purchasing an additional 38,910 shares during the period. High Note Wealth LLC's holdings in Uber Technologies were worth $3,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SGL Investment Advisors Inc. purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $871,000. Shell Asset Management Co. boosted its holdings in Uber Technologies by 10.9% in the second quarter. Shell Asset Management Co. now owns 140,104 shares of the ride-sharing company's stock worth $13,072,000 after acquiring an additional 13,738 shares in the last quarter. Roundview Capital LLC purchased a new stake in Uber Technologies in the second quarter valued at approximately $674,000. True Vision MN LLC increased its holdings in Uber Technologies by 3.2% in the 2nd quarter. True Vision MN LLC now owns 5,539 shares of the ride-sharing company's stock worth $517,000 after buying an additional 173 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its position in Uber Technologies by 2.4% during the second quarter. KLP Kapitalforvaltning AS now owns 712,800 shares of the ride-sharing company's stock valued at $66,504,000 after purchasing an additional 16,600 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 3.5%

Shares of NYSE:UBER opened at $100.02 on Tuesday. The firm's 50-day simple moving average is $94.12 and its 200-day simple moving average is $87.40. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The company has a market cap of $208.58 billion, a price-to-earnings ratio of 17.04 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the prior year, the company posted $0.47 EPS. The business's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated 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 transaction, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares in the company, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock valued at $58,659,491 in the last 90 days. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UBER. Morgan Stanley restated an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Mizuho began coverage on shares of Uber Technologies in a research note on Monday, September 29th. They set an "outperform" rating and a $130.00 target price on the stock. Raymond James Financial raised their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company dropped their target price on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Wedbush lowered their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.03.

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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