Kayne Anderson Rudnick Investment Management LLC Lowers Position in Uber Technologies, Inc. $UBER

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in Uber Technologies by 6.6%, now holding 652,722 shares valued at approximately $47.56 million.
• Other investors, including Clark Capital Management Group Inc., made significant increases in their stakes, with Clark growing its position by 11,354.8% in the last quarter.
• Uber Technologies reported earnings of $0.63 per share, exceeding expectations, and its revenue increased by 18.2% year-over-year to $12.65 billion.

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 652,722 shares of the ride-sharing company's stock after selling 46,293 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Uber Technologies were worth $47,557,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Clark Capital Management Group Inc. raised its position in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after purchasing an additional 399,008 shares in the last quarter. UMB Bank n.a. raised its position in 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 in the last quarter. Revolve Wealth Partners LLC raised its position in 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 in the last quarter. Mufg Securities Americas Inc. purchased a new stake in Uber Technologies during the fourth quarter valued at about $1,875,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Uber Technologies during the first quarter valued at about $943,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Up 2.6%

NYSE UBER opened at $96.7020 on Monday. 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 stock has a market capitalization of $201.66 billion, a PE ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The business's 50-day moving average is $91.08 and its 200 day moving average is $83.02.

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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. KeyCorp lifted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Roth Capital lifted their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Citigroup lifted their price objective on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. One investment 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

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.

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