Meitav Investment House Ltd. Lowers Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Meitav Investment House Ltd. significantly reduced its stake in Uber Technologies by 46.1% during the second quarter, selling 329,187 shares and leaving it with 385,652 shares valued at approximately $35.99 million.
• Other institutional investors like Pershing Square Capital Management and Kingstone Capital Partners have altered their holdings in Uber, with Kingstone increasing its stake by over 334,000%, acquiring nearly 20 million shares valued at around $1.86 billion.
• Despite the reduction in some holdings, Uber's stock has seen positive adjustments from analysts, with multiple firms raising their price targets, with the average now at $104.03 and a consensus rating of "Moderate Buy".

Meitav Investment House Ltd. reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 46.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 385,652 shares of the ride-sharing company's stock after selling 329,187 shares during the quarter. Meitav Investment House Ltd.'s holdings in Uber Technologies were worth $35,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Uber Technologies by 334,075.7% in the second 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 buying an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after buying an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after buying an additional 2,749,456 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,821 shares of company stock valued at $58,659,491. Company insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Piper Sandler lifted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Roth Capital lifted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Bank of America lifted their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Susquehanna lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Two research analysts have 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. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $104.03.

Uber Technologies Stock Performance

NYSE UBER opened at $100.02 on Tuesday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock has a market cap of $208.58 billion, a price-to-earnings ratio of 17.04 and a beta of 1.48. The business has a fifty day moving average of $94.12 and a 200-day moving average of $87.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results 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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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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