Kercheville Advisors LLC Trims Holdings in Uber Technologies, Inc. $UBER

Key Points

• Kercheville Advisors LLC reduced its stake in Uber Technologies by 23.1%, holding 45,070 shares valued at approximately $4.2 million.
• CEO Dara Khosrowshahi sold 300,000 shares at an average price of $95.37, representing a 20.94% decrease in his position.
• Several institutional investors, including Vanguard Group Inc. and Pershing Square Capital Management, have made significant adjustments to their holdings in Uber, with institutional investors owning over 80% of the company.

Kercheville Advisors LLC reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,070 shares of the ride-sharing company's stock after selling 13,550 shares during the quarter. Uber Technologies accounts for 1.5% of Kercheville Advisors LLC's investment portfolio, making the stock its 22nd largest position. Kercheville Advisors LLC's holdings in Uber Technologies were worth $4,205,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies in the first quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its holdings in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Pacer Advisors Inc. grew its position in Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. grew its position in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Finally, Boston Partners increased its stake in Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after purchasing an additional 2,749,456 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 22,528 shares of the company's stock, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Price Performance

Shares of UBER opened at $96.53 on Friday. The firm has a market capitalization of $201.30 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The firm's fifty day simple moving average is $93.93 and its 200-day simple moving average is $87.14. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. 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 (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm 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 company posted $0.47 earnings per share. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on UBER shares. UBS Group raised their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Sanford C. Bernstein increased their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Piper Sandler raised their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Roth Capital upped their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.03.

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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