Hourglass Capital LLC Cuts Position in Uber Technologies, Inc. $UBER

Key Points

• Hourglass Capital LLC reduced its stake in Uber Technologies by 61.4% during the second quarter, holding just 2,204 shares worth $206,000 at quarter's end.
• Several institutional investors, including Nova Wealth Management Inc. and Atticus Wealth Management LLC, have increased their stakes in Uber, reflecting a mixed sentiment among investors.
• Wall Street analysts have varied ratings on Uber's stock, with the consensus currently being a "Moderate Buy" and an average price target of $105.06 per share.

Hourglass Capital LLC lessened its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 61.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,204 shares of the ride-sharing company's stock after selling 3,500 shares during the quarter. Hourglass Capital LLC's holdings in Uber Technologies were worth $206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nova Wealth Management Inc. boosted its stake in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 125 shares during the period. Atticus Wealth Management LLC boosted its stake in shares of Uber Technologies by 39.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 127 shares during the period. Forum Financial Management LP boosted its stake in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 138 shares during the period. Finally, Rogco LP boosted its stake in shares of Uber Technologies by 1.6% during the 2nd quarter. Rogco LP now owns 8,925 shares of the ride-sharing company's stock worth $833,000 after purchasing an additional 139 shares during the period. Institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares of the company's stock, valued at $2,239,733.76. This represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the company's 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 completion of the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 601,821 shares of company stock worth $58,659,491. Company insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. UBS Group boosted their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets boosted their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.06.

Uber Technologies Trading Up 0.3%

Shares of Uber Technologies stock opened at $94.58 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The firm has a market capitalization of $197.24 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48. The firm's 50 day simple moving average is $95.17 and its two-hundred day simple moving average is $88.23.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.