Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management Inc. reduced its stake in Uber Technologies by 45.6%, owning 56,345 shares valued at approximately $4.1 million following the sale of 47,159 shares in the first quarter.
• Institutional ownership of Uber Technologies is significant, with 80.24% of the company's stock being held by various investors; notable stakeholders include Capital Research Global Investors and Pacer Advisors Inc. who increased their holdings substantially.
• Uber Technologies recently reported earnings of $0.83 per share, surpassing expectations and showing a year-over-year revenue growth of 13.8%, even though revenue slightly missed analyst forecasts.

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 45.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,345 shares of the ride-sharing company's stock after selling 47,159 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Uber Technologies were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Navalign LLC grew its stake 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 buying an additional 126 shares during the last quarter. Grove Bank & Trust lifted its stake in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after acquiring an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Uber Technologies by 42.1% during the first 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 last quarter. Finally, Amplius Wealth Advisors LLC increased 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 valued at $302,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UBER. Citigroup raised their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wedbush restated a "neutral" rating and set a $85.00 price target on shares of Uber Technologies in a research note on Friday. Piper Sandler boosted their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Loop Capital reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a research note on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.71.

Uber Technologies Trading Down 1.9%

UBER traded down $1.68 during trading on Friday, hitting $86.07. 2,979,379 shares of the company's stock were exchanged, compared to its average volume of 22,143,549. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The stock has a 50 day moving average price of $89.14 and a 200 day moving average price of $80.14. The firm has a market cap of $179.98 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the prior year, the company earned ($0.32) EPS. The firm's revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,496,071 in the last ninety days. 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.