MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Holdings in Uber Technologies, Inc. $UBER

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Uber Technologies by 3.4%, selling 42,767 shares and retaining 1,202,211 shares valued at approximately $87.58 million.
• Several institutional investors, including Kozak & Associates Inc. and GPS Wealth Strategies Group LLC, have recently altered their positions in Uber, showing a trend of increased interest from new investors.
• Uber reported $0.63 earnings per share for its latest quarter, exceeding analysts' expectations and reflecting an 18.2% increase in revenue compared to the previous year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,202,211 shares of the ride-sharing company's stock after selling 42,767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Uber Technologies worth $87,583,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies in the 1st quarter valued at about $27,000. Kozak & Associates Inc. raised its holdings in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies in the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC increased its position in shares of Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co increased its position in shares of Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analyst Weigh In

UBER has been the topic of several recent research reports. Barclays reiterated an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Bank of America increased their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Susquehanna increased their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Finally, Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock valued at $4,632,774 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Uber Technologies Trading Down 1.2%

Shares of UBER stock traded down $1.09 during trading hours on Friday, reaching $90.89. The company's stock had a trading volume of 20,364,649 shares, compared to its average volume of 14,490,310. The stock has a market capitalization of $189.54 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.04 and a beta of 1.43. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The firm's fifty day simple moving average is $92.42 and its 200 day simple moving average is $84.05. 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 (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 for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current 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.