Knuff & Co LLC Trims Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Knuff & Co LLC reduced its stock holdings in Uber Technologies, Inc. by 44.1%, now owning 5,000 shares valued at approximately $364,000 after selling 3,950 shares in the first quarter.
• Uber reported $0.63 earnings per share, exceeding expectations, with a revenue of $12.65 billion, up 18.2% year-over-year.
• Several analysts have raised their price targets for Uber, with Goldman Sachs increasing theirs from $96 to $110, reflecting confidence in the company's growth potential.

Knuff & Co LLC decreased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 44.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the ride-sharing company's stock after selling 3,950 shares during the period. Knuff & Co LLC's holdings in Uber Technologies were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Navalign LLC increased its position in Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after purchasing an additional 126 shares during the period. Grove Bank & Trust grew its holdings in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after acquiring an additional 133 shares during the period. Forum Financial Management LP grew its holdings in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after acquiring an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in shares of Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after acquiring an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC grew its holdings in shares of Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Up 1.4%

Shares of Uber Technologies stock opened at $92.64 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $193.19 billion, a PE ratio of 15.78, a P/E/G ratio of 1.05 and a beta of 1.43. The business's fifty day moving average is $90.19 and its two-hundred day moving average is $81.86. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The business's quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. Analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UBER shares. The Goldman Sachs Group upped their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Roth Capital upped their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus upped their price target on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $102.82.

Insider Buying and Selling at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.84% of the company's stock.

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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