Mirae Asset Global Investments Co. Ltd. Sells 12,040 Shares of Uber Technologies, Inc. $UBER

Key Points

• Mirae Asset Global Investments Co. Ltd. has decreased its position in Uber Technologies by 3.4%, selling 12,040 shares, and now holds 341,270 shares valued at approximately $31.84 million.
• Analyst ratings for Uber have varied, with some brokerages lowering their ratings while others raised price targets, resulting in a consensus rating of "Moderate Buy" with an average price target of $104.03.
• Uber's recent quarterly earnings report showed earnings per share of $0.63, beating estimates, with revenues reaching $12.65 billion, reflecting an 18.2% increase year-over-year.

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,270 shares of the ride-sharing company's stock after selling 12,040 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Uber Technologies were worth $31,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kozak & Associates Inc. raised its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in Uber Technologies during the first quarter worth $27,000. Vision Financial Markets LLC bought a new stake in Uber Technologies during the first quarter worth $27,000. West Oak Capital LLC bought a new stake in Uber Technologies during the second quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Uber Technologies by 305.1% in the first 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 period. 80.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on UBER. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Royal Bank Of Canada increased their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Bank of America increased their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, BMO Capital Markets increased their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average price target of $104.03.

Uber Technologies Price Performance

NYSE:UBER opened at $96.53 on Friday. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The firm has a market cap of $201.30 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The firm's 50-day simple moving average is $93.93 and its 200 day simple moving average is $87.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) 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 the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony West sold 100,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider owned 171,558 shares in the company, valued at $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 604,571 shares of company stock valued at $58,920,741. Company insiders own 3.84% of the company's stock.

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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