MBL Wealth LLC Sells 2,928 Shares of Uber Technologies, Inc. $UBER

Key Points

• MBL Wealth LLC reduced its stakes in Uber Technologies by 46.6%, selling 2,928 shares and holding 3,360 shares valued at $245,000.
• Despite the sale by MBL Wealth, other institutions, like UMB Bank and Revolve Wealth Partners, have increased their positions in Uber, indicating mixed sentiment among investors.
• Uber's latest earnings report showed a 18.2% increase in revenue year-over-year and earnings per share of $0.63, exceeding analysts' expectations.

MBL Wealth LLC lessened its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 46.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,360 shares of the ride-sharing company's stock after selling 2,928 shares during the quarter. MBL Wealth LLC's holdings in Uber Technologies were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. grew its position in Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after acquiring an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. bought a new position in Uber Technologies in the 4th quarter valued at $1,875,000. Dynamic Advisor Solutions LLC bought a new position in Uber Technologies in the 1st quarter valued at $943,000. Finally, Exchange Traded Concepts LLC grew its position in Uber Technologies by 29.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,939 shares of the ride-sharing company's stock valued at $214,000 after acquiring an additional 667 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 1.3%

Shares of NYSE UBER opened at $94.24 on Thursday. 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 $196.53 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.09 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 has a fifty day moving average price of $92.54 and a 200 day moving average price of $84.30.

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 analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during 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%.The firm's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Royal Bank Of Canada upped their target price on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Wedbush lowered their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.06.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the company's 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 owned 86,531 shares of the company's stock, 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 90 days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.84% 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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