Maridea Wealth Management LLC Trims Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Maridea Wealth Management LLC has significantly reduced its holdings in Uber Technologies, cutting its stake by 61.1% in Q2, resulting in ownership of 8,374 shares valued at approximately $781,000.
• Uber reported a net margin of 26.68% and revenue growth of 18.2% year-over-year, with earnings per share surpassing analyst expectations.
• Insider trading activity has increased, with significant sales by executives, including Nikki Krishnamurthy and Jill Hazelbaker, resulting in a combined sale of over $4 million worth of shares.

Maridea Wealth Management LLC reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 61.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,374 shares of the ride-sharing company's stock after selling 13,145 shares during the period. Maridea Wealth Management LLC's holdings in Uber Technologies were worth $781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBER. Kozak & Associates Inc. increased its stake in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the first quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the first quarter worth about $27,000. West Oak Capital LLC purchased a new stake in Uber Technologies during the second quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC increased its stake in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 0.1%

Shares of NYSE:UBER opened at $97.70 on Thursday. The company has a market capitalization of $203.75 billion, a PE ratio of 16.64 and a beta of 1.43. 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 twelve month low of $59.33 and a twelve month high of $101.99. The firm has a 50 day simple moving average of $92.99 and a 200-day simple moving average of $85.78.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction 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 completion of the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 604,571 shares of company stock valued at $58,920,741. 3.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on UBER shares. Wells Fargo & Company boosted their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Susquehanna upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Cowen restated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

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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