Mengis Capital Management Inc. Reduces Position in Uber Technologies, Inc. $UBER

Key Points

• Mengis Capital Management Inc. reduced its stake in Uber Technologies, Inc. by 16.9% during the second quarter, selling 5,300 shares and leaving them with 26,145 shares valued at approximately $2.4 million.
• Uber's CEO, Dara Khosrowshahi, sold 150,000 shares valued at $15.07 million, marking a 13.24% decrease in his ownership of the stock.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" and a target price of $104.03, reflecting a mix of upgrades and downgrades from various brokerages.

Mengis Capital Management Inc. lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,145 shares of the ride-sharing company's stock after selling 5,300 shares during the quarter. Mengis Capital Management Inc.'s holdings in Uber Technologies were worth $2,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of Uber Technologies during the second quarter valued at approximately $96,000. Geneos Wealth Management Inc. raised its holdings in shares of Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after acquiring an additional 91,362 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Uber Technologies by 42.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock valued at $70,822,000 after acquiring an additional 226,960 shares in the last quarter. Kapstone Financial Advisors LLC bought a new position in shares of Uber Technologies during the second quarter valued at approximately $415,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Uber Technologies by 65.0% during the fourth 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 in the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 completion of the sale, the insider directly owned 86,531 shares in the company, 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 90 days, insiders sold 601,821 shares of company stock valued at $58,659,491. 3.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBER. Morgan Stanley restated an "overweight" rating and set a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company decreased their price objective on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Price Performance

UBER opened at $96.06 on Friday. The stock has a fifty day simple moving average of $94.73 and a two-hundred day simple moving average of $87.69. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $200.32 billion, a price-to-earnings ratio of 16.36 and a beta of 1.48. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS 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 firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. Research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

About Uber Technologies

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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